European property buyers are showing increasing interest in Dubai’s real estate market, particularly in new projects. This trend is more pronounced compared to Asian investors, partly due to the effect of the Ukraine crisis on the European economy, leading to better investment rates.
Western European countries, including Switzerland, Germany, France, and the UK, are leading the game in investing in order to benefit from higher rental income and capital appreciation.
For a long time, Pakistanis, Indians, British, Gulf nationals, and UAE citizens have been the primary investors in the local property market of Dubai, making up the majority of the total investment.
Recently, Russians have also emerged as significant players in the market, investing billions of dollars in real estate to secure massive returns.
Foreign funds have been pouring into the emirate’s property market after the pandemic, pushing it to almost reach the 2014 peak in March, which was the highest point in almost nine years.
According to a Dubai-based company, Samana Developers, it got more purchasers from France and other European states than Russians, Chinese, Pakistanis, British, and Indians.
Speaking about the changing market trends, Najmeh Jafari, stated that European investors are mostly from Germany, France, Netherlands, Sweden, Austria, Norway, and Belgium.
Revealing the reason behind the increase in European investors, she said that Dubai offers several benefits, including a low tax rate, an appealing lifestyle, affordable property and better returns, ease of doing business, and a stable political and economic environment.
Via Khaleej Times