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MEDIA / NEWS / 2019 / More Chinese investors are investing in Dubai property market now

More Chinese investors are investing in Dubai property market now

An increasing number of Chinese investors are interested in Dubai’s real estate due to the strengthening of times between the UAE and China, especially with the implementation of the Belt and Road initiative and other developments.

In recent years, the Chinese real estate market and stock market have witnessed impressive growth. In the meantime, more upper-middle-class investors have turned their targets to overseas markets, such as Dubai.

As per the data from Dubizzle, Downtown Dubai, The Greens and International City are the top three popular areas for Chinese investors who prefer ready properties, while Dubai Creek Harbour, Meydan and Madinat Jumeirah Living are more popular for off-plan projects.

Why oversea? Why Dubai?

Even though purchasing overseas real estates is much more difficult and complicated than purchasing in the home country, the interest from Chinese investors continues to grow. This trend is driven by multiple reasons: the depreciation of yuan, the immigration programs and the investment purpose, etc.

Dubai, especially, with the announcement of long-term 5 to 10 years residency visa scheme, is now attracting more foreign buyers. The UAE’s zero-tax benefit has attracted a large number of high net worth investors to come and set up their business here.

Location in the heart of the MENA financial centre, cost-effective selling prices of the properties, as well as the high rental yields have attracted many Chinese investors. 

The selling prices of Dubai’s properties are much lower than the prices in China. Take Downtown Dubai as an example, the average price of resale properties is around Dh 1,700~2,200 per square foot, which is equivalent to one quarter to one-sixth of the selling price of real estates in Downtown Shanghai, while both of them are famous international financial centres. However, with this selling price, Downtown Dubai also offers a free parking in the heart of Dubai together with the fitted flat.

Besides the affordable selling prices for the investors, Dubai properties also offer a high average yield. The Greens’s average yields are around 8% while its selling price is between Dh 1,200~1,500 per square feet. The average selling price in International City is even lower with Dh 700~980 per square feet, while its rental yields are some of the highest in Dubai of 8%~9%.

The areas which are close to the free zones and trading centres are more popular among Chinese investors. The Greens is close to Dubai Internet City and Dubai Media City, while International City is close to Dragon Mart which is one of the biggest hubs for Chinese traders in the region.

With the strengthening ties between the UAE and China, Dubai real estate behemoth Emaar has began to connect the Chinese market and to promote Dubai and the UAE as an investment and tourism destination. The development project – Dubai Creek Harbour – developed by Emaar and Dubai Holding provides investors with off-plan properties options, and Chinese investors have become one of the major investors of the project. Emaar also announced a “Chinatown” plan last year to establish a major retail and leisure area within the Dubai Creek Harbour project.

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