European investors cause surge in demand in Dubai’s secondary property market: report

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roperties in Dubai’s mid-to-luxury segment are seeing demand outstrip supply, super-premium properties are being bought quickly, and even the secondary market witnessed a threefold increase in in transactions in Q1 2022

Large numbers of European investors are snapping up ready properties in Dubai, resulting in a surge in demand in the secondary market, according to full-service real estate agency Metropolitan Premium Properties (MPP).

The uncertainty in today’s geopolitical climate is driving European investors, business owners, and families to consider Dubai as key business and lifestyle hub, the agency said in a statement.

The increased demand has resulted in the secondary real estate market heating up with prices rising more than 15 percent in the past two months.

Investors primarily from Germany, UK, Italy, and France are buying ready properties in the luxury segment as soon as they are available, especially in popular areas such as Palm Jumeirah, Dubai Marina, Dubai Creek, and Downtown.

For instance, Metropolitan Premium Properties has seen its European client base increase 20 percent in Q1 2022, compared to the same period last year.

Commenting on the market, the Secondary Market Sales and Leasing Director at Metropolitan Premium Properties, Alina Adamco, said: “Dubai is seen as a safe haven and investors are looking to the city’s real estate as a safe investment.

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