Economic Growth Of The City
One of the main reasons for Europeans to invest in Dubai is because of its growing and stable economy. Real estate and tourism are among the big players in the economy of Dubai. It also depends a little bit on finance. The property market of Dubai has shown good resilience even when facing a big pandemic like Covid in the past. According to some studies, the Emirate's GDP grew around 3% in 2022 which is a good bounce back from a situation like pandemic.
The real estate market is also booming in other cities but in 2023. The Dubai Land Department saw a 44.6% rise in property transactions which is more than the year 2022. This growth is not just from local investors but also comes from foreign buyers where Europeans have also jumped into the race and are among the contributors in buying properties Dubai. There was a period when Europeans made up around 21% of property transactions in Dubai in 2023 which was more than 16% from the year 2022.