Real estate in Dubai: Europeans now outnumber Russians as the top buyers

The real estate boom in Dubai has drawn foreign buyers looking for second homes or investments. We all agree that Russian buyers have historically been more active in the UAE and have a tendency to choose waterfront properties, according to Sean McCauley of the Denmark Group, who spoke with Arabian Business.

The market has seen an increase in French, European, and German customers, which demonstrates increased market confidence from customers globally. Dubai records weekly trades for more than $3 billion. Although Russian customers would often choose waterfront properties, recent buying choices have revealed a shift in behavior. Customers are much more conscious of their needs now, and they are looking for efforts to meet them.

The three types of “homeowners” are as follows:

consumers or occupants

Investors\Speculators

According to McCauley, “Finish Users are more drawn to the way of life, community, facilities, and standard extraordinary of end and layout.”

Investors are more concerned with the income they may expect to receive, but they are also picky in terms of the supply, and speculators tend to lean more toward off-plan projects that provide flexible payment schedules, he added. High Net Worth Individuals (HNWIs) are looking for trophy possessions all over the world. Because of the way of life representation,’ starchitects’ and movie celebrity fashion dressmaker mansions are becoming more and more popular. According to McCauley, “the bulk of Dubai asset buyers come from a variety of different countries throughout the world, and with the help of leveraging the naturally distinguishing attribute of the great geographical distances that divide those buyers from Dubai.”

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.