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UAE buyers top rising interest in US property

Posted by: In: Real Estate 14 Apr 2014 Comments: 0 Tags: ,

The number of prospective UAE buyers looking for US property on the RealtyTrac website has risen by more than 350% in the last five years, more than any other nation

Overseas property buyer demand for US real estate is rising – with the highest growth coming from the United Arab Emirates, says the RealtyTrac website.

Since 2009, the number of UAE subscribers to the RealtyTrac website has risen 352.2%, although it makes up just 1.1% of international prospective buyers, according to the latest data.

“One reason may be the relatively high number of residents who can afford international property ownership. While the country has just nine million residents, it had more than 1,000 Ultra High Net Worth residents last year. Much of this wealth is likely connected to the country’s oil industry,” says RealtyTrac.

Switzerland investors grew by 269.7% to a 2.1% share of prospective buyers, the eighth highest on the list.

“Swiss residents accounted for 2% of all international searches despite a population of just roughly eight million — smaller than New York City. Despite its size, Switzerland was also home to more than 6,300 ultra wealthy residents last year — more than all but a handful of countries. Also helping to make U.S. …read more

Source: OPP



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