Built to inform

Sign up for the daily newsletters

No, Thank you

Chinese demand for Dubai real estate down by 15% in Q3 2019

Despite the slowdown, China-based real estate developer Juwai.com said that enquiry levels still remain ‘healthy’

Chinese investments in Dubai real estate is down, but interest still remains high [representational]
Pixabay
Chinese investments in Dubai real estate is down, but interest still remains high [representational]

China-based website for buyers of overseas property, Juwai.com, has revealed that Chinese real estate investments in UAE property has dropped by 15% for Q3 2019, compared to the same period in the 2018.

According to Juawai’s “UAE mini report”, the growth rate from Chinese investors had “tapered off” but despite the decline, enquiry levels still remained high.

“Chinese buyers like the UAE and its long-term investment story, even if the current market is anaemic. The UAE builds abundant supplies of relatively affordable luxury homes that appeal to the tastes of mainland Chinese buyers,” said Juwai executive chairman Georg Chmiel.

“Purchasing in the UAE is easy due to the simplified paperwork and available financing. Given the current weak market, it is likely that buyers today make more enquiries before completing a transaction, on average, than say two years ago.”

Most popular

Awards

Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 754
Nov 23, 2019