Foreign property investors set to avoid Middle East
International investment into Middle Eastern property is set to plummet as fears over political instability continue to deter the money men.
According to a survey of 600 global property investors commissioned by law the firm Nabarro, 31 per cent of investors reported that they were looking to decrease their exposure to the region over the next five years.
Only 13 per cent of those surveyed said that they were looking to increase their holdings in the region - putting the Middle East at the bottom of a list of global investment destinations.
The Bric countries of Brazil, Russia, India and China topped the poll, with 68 per cent of investors wanting to increase their property holdings in the region.
A further 63 per cent of global investors surveyed said that they were looking to increase their property holdings in South America.
Western Europe was the third-most popular investment choice for international investors, with 49 per cent of global investors looking to increase their property holdings in the region and just 16 per cent looking to sell.
It was followed by North America, the Indian subcontinent and the Australia-Pacific region.
Middle Eastern investors topped the table of global investors looking to buy property in the United Kingdom, with 75 per cent of survey participants viewing the region as one of the main sources of investment in the UK.
Published: June 30, 2013 04:00 AM