Cluttons, a leading property consultant and chartered surveyor in the Middle East recently released its annual International Private Capital Survey 2013/14 report.
According to the report, Dubai became hot spot for the globe’s well-of property investors. While London still leads the survey, Dubai comes at 2nd place for being the most appealing real estate investment market across the globe for high net-worth individuals (HNWI).
The study participated by 461 HNWI from around the world and findings showed that Dubai has risen to second place behind London as the ideal real estate investment destination.
International Private Capital Survey aims to encourage the enthusiasm of global real estate investment and unravel the underlying drivers behind the intentions as a parameter of forthcoming trends in capital allocation.
Cluttons stated on its site: that the previous year’s results implied that world HNWI would look for investment spots near home markets as the global economy started its journey back towards a profound recovery. Cluttons knew that this would happen in the results of this year’s survey, with Dubai, specifically, rising sharply in the minds of the region’s HNWI.
The people from the Middle East prefer at the present Dubai to London, with Cluttons’ headquarters in Manama and Muscat reporting capital value growth, the emirate’s recognized status as a safe place and relatively high yielding residential property as the top 3 most appealing factors that influence HNWI, the report added.
Key factors that draw the attention of HNWI are the lifestyle that Dubai offers through the capacity to own a second home and the security offered through real estate investments in the Gulf city.