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Thursday, 6 April 2017

Money spent in Dubai by overseas property investors declines 40% | The National

Money spent in Dubai by overseas property investors declines 40% | The National:

 "The amount of money spent by overseas investors in Dubai last year plummeted by more than 40 per cent compared with a year earlier as currency fluctuations hit Indian and British investors, prompting developers to slow housing completions. According to property broker Core Savills, the total amount of money invested in property by investors from outside the Arab region fell to Dh44 billion last year from Dh74.6bn in 2015. It found that the total number of non-Arab, non-GCC investors into Dubai fell 35 per cent to 22,834 in 2016 from 35,162 in 2015. Core Savills analysed Dubai Land Department data to show that the total amount of money spent by Indian investors on Dubai property fell 42 per cent last year to just Dh12bn from Dh20.8bn in 2015. The broker said that the total number of Indian investors buying property in Dubai fell 28 per cent to 6,263 in 2016 from 8,756 in 2015."



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