Posted on 22 September 2010
Recent reports have indicated a growth in the prevalence of buyers from the Middle East in the overseas property market. We have noted a similar trend, particularly in buyers from the GCC countries (Gulf Cooperation Council).
In the year to end Q2 2010, growth in visits to the Spot Blue site from users in many of the GCC countries have grown considerably.
Visits from Saudi Arabia were up by the biggest margin; 95% year on year in the second quarter of this year, while UAE visits saw the second biggest growth of 87%, and visits from Qataris were up 45% compared to last year. Kuwait was the only faller, with visits down 40%. The highest number of visitors came from the United Arab Emirates. In total, visits from GCC nations were up by almost a third.
For the wider Middle East, visits from Jordan, Lebanon and Egypt (49%) and Lebanon (71%) were all up massively on last year, with growths of 104%, 71% and 49% respectively. There was also a 206% growth in visits from Iraq, which is still a very low volume of visits and so not really part of the larger context, but a reflection that the country does slowly but surely seem to be normalising.
As a total percentage of site traffic, visits from the Middle East were almost 5% higher in the second quarter of this year compared to last year.