In 2023, Indians emerged as the primary investors in Dubai real estate, securing the top spot in property transactions, as revealed by a recent report from Better Homes, a property consultancy based in the emirate. The data indicated that while Pakistanis ranked seventh in real estate purchases, they exceeded their transactions from the previous year.
Dubai’s population witnessed a substantial increase of 100,000 residents in 2023, resulting in a surge in the property market with record purchases and escalating prices. The report disclosed an 18% rise in property prices during 2023, showing an acceleration compared to the 11% increase observed in 2022.
The most active participants in real estate transactions were buyers from India and the United Kingdom, contributing significantly to the market. Russians, who held the top position in the previous year, were listed as the third-largest group of buyers.
A noteworthy trend was the remarkable increase in property buyers from Pakistan, securing the seventh position in the rankings. Additionally, purchasers from Egypt, Lebanon, and Turkey also experienced a significant uptick. This trend highlights Dubai’s enduring appeal as a global safe haven, offering stability amidst geopolitical and economic uncertainties, according to the report.
