Real estate ‘preferred mode of investment’ in GCC and Egypt
Property sector first choice for more than half of investors in region, with Dubai named the most sought-after city – survey
Real estate is the preferred mode of investment for people across the GCC and Egypt, according to a survey of investors in the region conducted by market research company YouGov in partnership with Cityscape Global.
The Real Estate Barometer study revealed that more than half (54%) of respondents would choose real estate as their preferred investment category, followed by stocks (13%) and precious metals (11%). According to the study, this shows the underlining buoyancy of the regional property market.
The YouGov research also indicated that the UAE is one of the most appealing countries in which to invest in real estate, with 65% of respondents citing it as the most attractive option within the Middle East, while 64% believed that Dubai is the prime city in which to buy property in the region.
Conducted in partnership with Informa, the organiser of Cityscape Global, the study showed that properties that are built to a high standard of quality as well as those that deliver good value for money are the most important factors considered by respondents before investing in residential real estate.
“It’s not surprising that the UAE and Dubai top the (list of) most attractive places to invest in real estate as the decision to invest in this sector depends foremost on the state of the economy in the market of interest, according to 73% of respondents across the region,” said Lara Al Barazi, YouGov’s head of real estate research.
“That said, what investors and home buyers are telling developers is that the market is missing affordable housing which constitutes by itself potential unmet needs waiting to be fulfilled. Market gaps, micro and macro appeal along with class sentiment are all parameters covered in the Real Estate Barometer which will be unveiled during the Cityscape Global Conference.”
Al Barazi, along with speakers such as Rohit Talwar, CEO of Fast Future, and Craig Plumb, head of Research at JLL MENA will deliver exclusive presentations on September 5 during the Cityscape Global Conference at The Conrad hotel in Dubai.
