Chinese investors are also now investing in spacious housing units in prestigious areas such as Downton Dubai and Jumeirah Golf Estates, as against their preference for smaller studio and one-bedroom apartments in the pre-pandemic period.

Chinese investors are back inĀ Dubaiā€™s real estate marketĀ with a vengeance, posting a staggering 130 percent jump in residential property investments in the city in the first half of 2023, compared to the post-Covid period, the latest market report revealed.

The spike is seen as the classic case of Chinaā€™s loss becoming Dubaiā€™s gain, as it comes amid an estimated 27 percent plunge in apartment sales in the Far East country ā€“ far below what was expected given the countryā€™s urbanisation trends and the high demand for improved housing ā€“ in the wake of its economy growing at a slower rate of 3 percent in Q2, 2023 over the same year-ago period, industry insiders said.

TheĀ Chinese investorsĀ are also now investing in spacious housing units in prestigious areas such as Downtown Dubai and Jumeirah Golf Estates which has seen a substantial rise in average property prices in recent times, as against their preference for smaller studio and one-bedroom apartments in the pre-pandemic period when they were the leading overseas investors in the emirate, the half yearly marketĀ reportĀ by Allsopp & Allsopp, Dubaiā€™s leading independent real estate agency, showed.