French, Italian and German buyers are showing increasing interest in Dubai properties
The Dubai real estate boom has attracted international buyers, looking for second homes and/or investments.
“We all know that Russians buyers have been particularly active in the UAE over the years and historically speaking, they typically gravitate towards waterfront properties,” said Sean McCauley, Devmark Group told Arabian Business.
An increase of French, European and German buyers have entered the market which indicates increasing confidence in the market from global buyers.
Although Russian buyers would generally gravitate towards waterfront properties, recent buying decisions have indicated behavioural changes. Buyers are much more conscious of their lifestyles and are looking for projects to meet those requirements.
A “Homeowner” can technically be broken down into three categories:
- End users/occupiers
- Investors
- Speculators
“End Users are more drawn to the lifestyle, community, amenities, and overall quality of finish and layout,” McCauley said.
“Investors are more concerned with the yield they can expect to achieve but also are discerning in terms of the offering while speculators tend to lean towards off-plan projects that offer flexible payment plans,” he added further.”\
High Net Worth Individuals (HNWIs) are looking for trophy assets around the world, a product associated with an architect or designer attracts interest due to lifestyle representation, ‘starchitects’ and celebrity designer properties are seeing increasing demand.
“The majority of Dubai property buyers come from a multitude of countries from all around the world, and by the pure virtue of the large geographical distances that separate these buyers from Dubai,” said McCauley.
Source : Arabian Business