After the escalation of the conflict in Ukraine, Russian active demand for luxury real estate led to record home sales in Dubai in 2022. In the last 12 months, more than 90 thousand real estate purchases were made in this emirate, before that, analysts recorded a record record in 2009 (81.8 thousand), informs The Bloomberg agency cites CBRE Group statistics.
“Last year, more than 90,000 real estate transactions were completed in the Emirate of Dubai, allowing us to surpass the 2009 record when 81,800 properties were sold. The number of rental houses increased by 11 percent. The increase in the number of transactions was facilitated by the active demand of Russians for real estate in Dubai, ”the material says.
According to Taimur Khan, head of the analytics division of CBRE Group, Russian citizens are mainly focused on the purchase of luxury segment objects. At the same time, he did not specify what the proportion of Russians is among those who decided to invest in Dubai real estate.
On December 25, the Financial Times, citing sources reportedThat the main rivals of Russians in the fight for the right to buy property in Dubai are citizens of European countries, citizens of India and Asian financiers. At the same time, the main incentives for Europeans to buy housing in the UAE are the desire for a warm climate and low taxes.
Source: Gazeta
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