At ListGlobally we believe that rather than only looking at statistics, we need to dive deeper and also have our customers feedback. This is why we had an interview with Joseba Umbelina from LuxHabitat in Dubai to understand how foreign buyers are trending in that region.
International buyers are as important as local buyers
According to LuxHabitat International buyers are as important as their local buyers. Why is that? They consider that their relationship with foreigners is the most interesting as t usually culminates in a long-lasting one.
Whether foreigners want to purchase for investment, to move to Dubai, or just buy a holiday home, LuxHabitat makes sure their customers are supplied with complete market knowledge.
40% of their leads are from foreign buyers
In our conversation with LuxHabitat's, we were able to confirm that they receive foreign leads on a daily basis.
We receive foreign leads daily. In fact, around a 40% of our leads come from customers abroad. Most international buyers want to buy a house in the UAE as an investment as rental yields are really good (7% on average YTD) comparing with more traditional markets in Europe and US. Joseba Umbelina, Head of Digital Marketing at LuxHabitat.
Mister Umbelina also confirmed that it’s also very common to have foreign customers that are looking to buy a second home in Dubai.
They are looking for a place to enjoy a pleasant weather during the cold Winter in Western countries. Joseba Umbelina, Head of Digital Marketing at LuxHabitat.
GCC Nationals are among the big spenders in Dubai
Most of the foreigners that LuxHabitat works with are GCC Nationals. They work a lot with people coming from Qatar, Saudi Arabia, Kuwait, Bahrain and Oman, and also Indians and British nationals.
If we consider the type of properties they are buying, they refer that these buyers are looking to buy anything with an international standard of quality.
International buyers are looking for a variety of properties. We are lucky to have a wide range of communities that offer a golfing lifestyle, beach lifestyles and serviced apartments. Joseba Umbelina, Head of Digital Marketing at LuxHabitat.
Even though things are going pretty well with GCC Nationals, LuxHabitat is also focusing it's attention to a new target: the Chinese.
Everybody loves the beach and the novelty of Palm Jumeirah
Everybody loves beach and good weather right? But why are foreigners looking to buy in Dubai? According to LuxHabitat the reason is also the novelty of Palm Jumeirah.
The Jumeirah area with its many unique concepts such as La Mer & Kite Beach are huge draws for water sports lovers. It also has amazing dining options. Jumeirah Beach Residence was a very Miami vibe. Citywalk is a mixed-use shopping & dining area and an absolute local favourite.
There’s also a significant interest in the Dubai Marina. The Burj Khalifa in the Downtown area is also a huge draw, with luxury shopping options available at the Dubai mall. There’s always something happening in different parts of the city and the residents here are very social throughout the week.
The best neighbourhoods for foreign buyers
Dubai is becoming more and more international. However what are the best regions for foreign buyers? Let's have a look at LuxHabitat suggestions.
Foreign buyers don’t like to rush into anything
According to LuxHabitat, foreign buyers don’t like to rush into anything. They often take more than a year to close a transaction. On the other hand, reaching some peculiar markets like Asia can be a real challenge without in-house expertise.
To overcome this obstacle, Mr. Umbelina refers that the secret is to have patience. According to him, it is necessary to have a lot of patience to build a good relationship with foreigners and expect that it will pay off.
ListGlobally helps LuxHabitat to expand its global footprint
After signing this new partnership with ListGlobally, LuxHabitat was able to expand its global footprint.
ListGlobally allows us to reach foreign markets that other way would be very difficult to tackle for us. Easy to use, it doesn’t require much time to have our properties published in dozens of portals worldwide. Joseba Umbelina, Head of Digital Marketing at LuxHabitat.
Joseba Umbelina, also says that working with ListGlobally is a great way to test the foreign buyers market, and creating an alternate source of buyer leads.
LuxHabitat
Luxhabitat is a high-end real estate brokerage company located in Dubai. They are setting extraordinary records and selling of the most important residential properties in the country. Luxhabitat extends to its brokerage firm’s a tradition of stability, integrity, personal attention and breakthrough innovation. It is this unique combination of old ideals and new ideas that sets Luxhabitat distinctly apart.
When it comes to foreign buyers, Luxhabitat provides a complete overview on the market as well as property portfolio management services. Through their rentals team, they also help find tenants if foreigners are looking for an investment option.
Last but not least... don't forget to follow LuxHabitat Facebook and Instagram.
