Foreigners have always had a high interest in real estate in the UAE. More than 80% (according to some sources, it is more than 90%) of the residents of the United Arab Emirates are foreigners. Europeans are no exception. They have long shown genuine interest in real estate in Dubai. But experts report that only a small proportion of real estate transactions in the emirates account for European buyers, and the popular opinion about the predominance of buyers from Europe in the local market is nothing more than a myth.
In recent years, the share of Europeans, who buy real estate in the UAE was only from 5 to 7% of total sales. The most active buyers continue to be citizens of India, Pakistan, Europe and indigenous residents of the Emirates. The reason for this was the dynamic development of the UAE and the successful exit of the state from the crisis. In particular, Dubai, faster than other developed cities, has created safe conditions for all arriving foreigners, whether they are ordinary travelers or investors in real estate sector.
As for the myth associated with European buyers, there is one rational explanation for it. It is buyers from Europe who most often purchase luxury housing by the sea in Dubai worth from USD 1.5 million per real estate unit.