Metropolitan Premium Properties sees Europeans invest heavily in Dubai’s secondary real estate market

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Ready property prices surge 15% in Q1 2022 as demand outstrips supply

Dubai, United Arab Emirates: Metropolitan Premium Properties (MPP), a full-service real estate agency has seen a surge in European investors snapping up ready properties in Dubai. The uncertainty in today’s geopolitical climate is driving European investors, business owners and families to consider Dubai as key business and lifestyle hub and real estate as a safe investment.

This surge in demand has resulted in the secondary market heating up with prices surging over 15% 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.

 

MPP has seen its European client base increase 20% in Q1 2022 compared to the same period last year.

Commenting on the market, Alina Adamco, Secondary Market Sales & Leasing Director at Metropolitan Premium Properties, said:

Dubai is seen as a safe haven and investors are looking to the city’s real estate as a safe investment. With more companies offering remote working opportunities, Europeans are relocating their families to Dubai while companies are shifting their base and their staff to the city.  One client from Austria relocating his business to Dubai was looking for AED 200m in residential property for his employees.

Properties in the mid-to luxury segment are most popular with demand outstripping supply. We have seen investors buy super-premium properties whereas earlier they would initially pick up smaller properties or rent before they purchase their forever home. We have seen our secondary market transactions increase three times in Q1 this year which has resulted in a 250% sales growth versus the same period last year

she added.

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