Investors are still confident in the UAE property market, reveals TheMoveChannel.com’s latest Top of the Props report. The UAE entered the Top 10 destinations in the property portal’s monthly chart in April 2016 for the second time this year.
Standard & Poor’s Ratings Services recently reported that property prices in the UAE declined around 10 per cent in 2015. Pressure from low oil prices have also weighed upon the market in the last year. Demand, though, remains strong, as investors stay confident in the UAE’s resilient real estate.
While developers in Dubai push ahead with their construction plans, buyers are also continuing with their property purchases: the UAE rose 10 places in April’s Top of the Props chart to seize the eighth spot from Brazil, accounting for 2.39 per cent of all enquiries on TheMoveChannel.com. This is the fourth time the UAE has ranked in TheMoveChannel.com’s Top 10 in the last six months.
Demand also surged for property in the Dominican Republic, which leaped 10 places into ninth, accounting for 1.44 per cent of last month’s activity. This is the country’s first time in the Top 10 and marks a steady growth in popularity over the last six months, rising from 36th in November 2015 to appear in the Top 20 destinations for two months in a row at the start of 2016.
At the top end of the table, the USA remains the number one destination, making up 11.96 per cent of enquiries (down slightly from 13.45 per cent). Portugal stole second place from Spain, its share of enquiries increasing to 4.49 per cent (ahead of Spain’s 4.16 per cent). France also climbed into fifth place from sixth, followed by Italy, which rose from seventh to sixth. Canada completed the Top Five in fourth place, with 3 per cent of all enquiries.
TheMoveChannel.com Director Dan Johnson comments: “The UAE economy and property market have moderated in the last year, partly impacted by global factors, such as low oil prices, but confidence remains in the Emirates’ real estate, with demand from overseas buyers staying strong over the last six months. That momentum is only set to build in the future, as Dubai prepares to host the World Expo in 2020.
“As attention centres on the UK’s looming EU referendum, emerging markets are making their mark on the global stage, with the paradise of the Dominican Republic proving a particularly attractive getaway. Appetite for European real estate remains undiminished, though, with buyers brushing aside any Brexit concerns to continue snapping up bargains in Portugal, Spain, France and Italy.”
The full Top of the Props chart for April 2016 is as follows:
Notes to Editors
About Lead Galaxy and TheMoveChannel.com
Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.
TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.
The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.
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