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A new survey says more than half of investors would choose residential property as their first option if they were to spend $10 million (Dh36.72 million) in the UAE real estate market.
The findings, revealed at the Cityscape Global Conference by market research company YouGov, reflected the positive sentiment underlining the region’s property industry.
Around 60 per cent of investors also believe the UAE is the most promising country for property investment. Middle-income housing, in particular, is an area that presents both a challenge and a huge investment opportunity in the region.
“The lack of middle-income housing is one of the major challenges facing the real estate industry across Middle East and North Africa [Mena],” said Craig Plumb, Head of Research at JLL Mena. “As population growth and urbanisation continue, countries throughout the region are facing growing pressure to accommodate the evolving needs of both nationals and expatriates,” he says. “This includes the need for more good-quality, affordable accommodation within developed communities, for middle-income individuals and households.”
Source: Property Weekly