UAE investors expect the UAE property market to growth over the next five years.
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UAE investors now consider property only second to gold as their preferred asset class, a new report by Friends Provident International has found.
Almost 49% of the respondents in the report said that they expect the UAE’s property market to perform strongly over the next five years. A further 11% expect ‘very strong growth’ over the same time period.
Only 10% of the respondents thought that there would still be weaknesses in the property market over the five years, the report said.
“The revised income levels and demographics of the respondents for the latest FPI Investor Attitudes Report show some interesting results. The increased preference for investing in property is not surprising as the UAE continues to recover from the financial downturn. This is a sign of confidence returning to the local market,” said Matthew Waterfield, FPI’s general manager for Middle East and Africa.
The report was compiled from a survey of wealthy, UAE-based expatriate respondents. It showed that on balance, investors believed that the market had improved over the last six months, and that there were strong sentiments that the market would continue to improve.
The report is the first edition of the revised Investor Attitudes Report and follows eight previous waves of research, covering a period of more than two years. The surveys are conducted simultaneously in FPI’s three principal markets of Hong Kong, Singapore and the UAE.