Pakistan among top 10 countries to buy property in Dubai: Report

Pakistan is among the top 10 countries to buy property in Dubai, a report claims.

According to the report of foreign news agency, the cost of buying residential property in Dubai has increased by 60% and the price by 85% this year, India is on the first place in the list despite the decrease of 8% in the purchase of property in Dubai.

The report claims that the list includes Great Britain, Italy, Russia, France, Canada, United Arab Emirates, Egypt, Pakistan, Lebanon and China.

While Pakistan and Egypt are on the eighth position in this list.

According to the report, Dubai’s residential property turnover for 6 months was $24.23 billion, the mortgage market remained active due to European geopolitical conditions and expectations of global interest rate hikes.

Dubai property purchases by Russian investors increased by 164 percent following Ukraine war sanctions, while Dubai property purchases from France increased by 42 percent and those from the United Kingdom by 18 percent.

Purchases from India fell by 8% and purchases of Dubai property from Italy by 17%.

According to the data released in the report, a record 37,762 property units were sold in Dubai in 2022.