Half of Indians in Dubai seek apartment lifestyle: Survey

| Thursday, March 26, 2015 - 17:42
First Published |

Half of Indians in Dubai seek apartment lifestyle: Survey

Dubai: Nearly half of Indians living here prefer apartment lifestyle with around 60 percent of them searching to buy a house, according to a survey.

Real estate web portal Bayut.Com has found in its survey that around 60.80 percent Indians living here have been searching to buy a house in the past three months, out of which 82.86 percent were interested in buying apartments.

At the same time, 39.20 percent Indians living here were seeking a property for rent in the past three months.

Despite a slight decline in the percentage of apartment seekers as compared to the last year when it was 84.63 percent, the trend portrays the high interest of Indians in apartment lifestyle, it said.

Similarly, 13.71 percent Indians were interested in purchasing villas while the search for townhouse and offices was limited at 1.71 percent each.

As Dubai's realty soared last year, Indians took the lead in its real estate investment.

A report by Dubai Land Department said that in January, Dubai saw massive foreign investment with USD 4.93 billion (18.12 billion dirhams) worth of investment coming from India.

It is no surprise given the large number of Non-Resident Indians living here who benefit from the high investment returns that the emirate's real estate sector offer, it said.

For Indians who were more interested in buying villas and townhouses, Dubailand was the most sought-after locality with an average sales price of (USD 10,06,237) 3,695,859 dirhams.

Apartments were again highly desirable in terms of rent, with around 88.14 percent Indians searching for apartments, a figure considerably higher than the 67.27 percent searches last year.

There are about 1.5 million Indian nationals in Dubai and the Northern Emirates, according to the Indian consulate here. 

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