Uae investors in us real estate on the up

Photo: Katy Silberger

The number of buyers on the RealtyTrac has soared over 350 per cent since 2008, more than any other country. Indeed, international interest is rising for American property, with Swiss residents jumping 269.7 per cent to account for a 2.1 per cent share of prospective buyers, while Hong Kong and Chinese buyers both climbed to take a 4.1 per cent share.

UAE investors led the increase, though. They now make up just 1.1 per cent of international buyers, but subscribers from the emirates have surged 352.2 per cent in the last five years, indicating not just the appeal of America's recovering housing market, but also the existing appetite and wealth of UAE investors.

"One reason may be the relatively high number of residents who can afford international property ownership," notes 24/7 Wall St. "While the country has just 9 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. Roughly 40% of the emirates' GDP was tied to oil and natural gas output, according to OPEC, and oil prices have risen considerably in recent years."