UAE takes top spot in new global real estate index
Dubai: A new real estate index was launched on Tuesday, and leading it is the UAE.
In response to unprecedented demand among global investors for alternative residence and citizenship options in the wake of ongoing turbulence and uncertainly caused by the COVID-19 pandemic, Henley & Partners in partnership with Deep Knowledge Analytics has launched the Best Investment Migration Real Estate Index.
Leading the index is the UAE with 82 points, followed by Spain (80.7), Montenegro (77.2), Turkey (76.5) and Portugal (75.8).
Thailand, Greece, Grenada, Cyprus and Dominica wrap up the top 10.
The UAE has scored “highly for rental income potential, and the price of property per square metre is lower than other major international centers,” Henley & Partners said in a statement.
“Property acquisition by foreign nationals is galvanised by the country’s reputation for being a safe and secure environment in which to reside, attractive employment conditions, strong economy, and progressive outlook in terms of industries such as renewable energy. Various government initiatives have recently been introduced to improve livability and support residence by investment programs, including enhanced purchasing benefits,” it added.
The new index is a first-of-its-kind metric for those in the market for a secondary residence or citizenship. It considers over 30 parameters and over 300 data points to score and compare programme options worldwide according to key considerations such as the reputation of and quality of life in the host country, GDP, the minimum real estate investment amount, potential rental income, associated property costs, application processing efficiency, the real estate holding period, residence requirements, any restrictions, and saleability, as well as crypto-friendliness, which is gaining in importance among global investors.
The UAE also ranked No.1 in index sub-factors such as ‘reputation’ and ‘quality of life’, and No.2 in sub-factors such as ‘rental income’ and ‘salability’.