Chinese interest inDubai real estate is rising

Looking at an overview of the global real estate market in the past eight years, the strong purchasing power of mainland Chinese investors has led to healthy investment flow into countries, such as the US, Australia, UK and New Zealand; it has also led to an uplift in the Southeast Asian market in the past two years. With the advantages of quality education, medical care and immigration, European and American countries have attracted a large number of Chinese buyers to invest; Southeast Asian countries have attracted Chinese investors due to the convenience of its geography, affordable prices and tourist attractions. In the last two years, however, we have seen a large number of Chinese investors entering the Dubai real estate market. According to a recent Dubai Land Department (DLD) report, investments by Chinese nationals accounted for Dh1.7 billion in the first three quarters of 2018. This figure makes them the sixth highest nationality investing in the emirate during this period, compared to ranking 15th in 2017. The number of Chinese expats in Dubai has increased by 53 per cent over the last five years, with around 230,000 Chinese nationals currently living in the emirate and around 4,000 Chinese companies with a presence here.