The United Arab Emirates and the Property Market, a Glimpse at Europe Pointing Towards Italy
Buying a house in Italy is a desire that continues to grow among UAE investors, key players in a 24% increase during the first five months of the year: requests for Italian property reflect a new trend in the UAE market, as noted by Gate-away.com the portal dedicated to those looking for a second home in the country.
But what are the most sought-after Italian regions from the United Arab Emirates? According to the ranking compiled by Gate-away.com, in first place is Lombardy with 19,04% of requests, followed by Tuscany (13,87%), Abruzzo (13.34%), Liguria (9.87%) and Piedmont (8.27%), with the most sought after cities being Venice, Fivizzano, Bordighera and Ostuni.
Simone Rossi, general manager of Gate-away.com, believes that “The luxury sector accounts for over 14% of enquiries. And this is not surprising given the steady interest in prestigious properties from areas of the UAE, especially in exclusive areas such as Lake Como in Lombardy. Further analysis reveals that while requests for luxury Italian properties are submitted mainly by potential buyers with UAE origins, the number of property enquiries under € 500,000 comes from buyers living in the UAE, but with European origins. The reason for this trend – Simone Rossi concludes – could be linked to the fact that many expatriates have reached good economic stability, and possess a more or less substantial budget to be allocated for buying a second home in Italy. Properties ranging from € 100,000 and € 500,000 attract almost 50% of incoming requests”.
Housing demand from the UAE is an important industry for Italy’s economy and that’s why, after the positive experience of partnership for the April 2016 edition, Gate-away.com has renewed its strategic partnership with International Property Show (IPS); one of the most important exhibitions in the Middle East for promoting the Italian property market.
“IPS is a perfect site for promoting exchanges and meetings between supply and demand in the property market – Mr. Kamran Mehdiyev, Project Director of the organizer of the Dubai International Property Show explains – and Italy can attract increasing investment from UAE residents and beyond. This is why the partnership with Gate-away.com was also reconfirmed for the 2017 edition to be held at the Dubai World Trade Centre”.As a matter of fact, the highest number of requests for Italian properties come specifically from Dubai, followed by Abu Dhabi.
:: Editor’s Note
Gate-away.com is the leading Italian property portal solely devoted to overseas buyers looking for their dream home in the boot-shaped country. It's based in Italy, and promptly became the reference point for people around the world searching for a second home in the Bel Paese.
On the portal are listed more than 22,000 among the best Italian properties that are currently for sale by more than 440 excellent Italian real estate agencies which are familiar with every need of non- Italian home-hunters and more than 2.200 private owners.