About 61 per cent of rich investors from the UAE are likely to make global property investments this year, with London and New York the two favoured destinations, according to a Cluttons study.

The survey, conducted with YouGov, found that wealthy investors – those with US$1 million or more to spend on property – favoured London because of the currency advantages between the UK pound and the US dollar.

“The strength of the US dollar, to which the UAE retains a fixed peg, has certainly contributed to the strong appetite for global property investments, particularly in the face of mute local and international economic conditions,” said Steven Morgan, the chief executive of Cluttons Middle East.

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