Brexit uncertainty draws more attention to Dubai
The Dubai Real Estate market is likely to be impacted by UK’s uncertainty to stay or exit the European Union (EU).
The ambiguity of the exit plan and the rejection by the British Parliament of the idea of a Brexit without a deal could pose a serious risk to the British economy in general and would also increase the risk levels on all current and potential Real Estate investments in UK. This improbability has also affected UK’s position as a top real estate destination with real estate prices gradually starting to decline.
Global investors have long been considering London and some other parts of UK as a “Safe Haven” for real estate investment, and this decision could affect investors globally and in the Gulf looking to possibly invest in hotels, malls, private places and luxury hotels.
This impact to the UK’s real estate scene is rapidly turning investors to Dubai’s market which is experience an increase in the number of inquiries of investment institutions on investment opportunities in real estate, especially in luxury homes and villas.