In June, the stable Dubai real estate market continued its rapid recovery with a 2.1% price increase. The reason for this was the massive relocation of European families – new homeowners in Dubai, which accelerated the growth of sales and prices in the real estate sector of the emirate. At the moment, prices have reached their 8-year high, increasing to 10% year-on-year.
A report by Property Monitor, a leading real estate portal, says that European buyers have recently become "a key demographic group that stimulates sales." The report focuses on the relocation of entire families, not just one breadwinner. This was proved by reports from schools that report a sharp increase in new foreign students.