Europeans are leading among housing buyers in new Dubai projects
Dubai-based developer Samana Developers said that buyers from EU countries took a greater part in the company’s latest project than customers from Russia, China, Indians and other foreigners who were leaders among foreign buyers of real estate in the emirate market in the past. According to other developers, this new trend is noticeable throughout the real estate market.
Traditionally, the main investors in Dubai real estate have been Indians, Pakistanis, Britons and citizens of the Persian Gulf countries, except for UAE citizens, who account for most of the total investment volume.
In the last two years, Russians have also expanded their presence in the emirate, investing billions of dollars in the local real estate market.
European property buyers continue to flock to Dubai, already outnumbering Asian investors in some new projects. EU citizens are attracted by more favorable bank rates, low taxes, favorable offers from developers.
Most of these buyers come to Dubai from countries such as Switzerland, Germany, France in order to receive higher rental and capital gains income than in the EU. British citizens also remain among the active buyers of local real estate.
A large influx of foreign investment into Dubai in the post-pandemic period allowed the emirate’s real estate market in March 2023 to almost reach record levels of 2014. This has not happened in the last 9 years.
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Lana Avetisyan
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