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’
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.”