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Dubai real estate Russian buyers
October 04, 2022
Recently l have come across some articles of Reuters, Bloomberg, etc. on the topic of Russian real estate buyers in Dubai, UAE. Here is a little case study based on their info for you as a sample what can be done for your country, too. Some info was also extracted from the Russian internet as well.
Russians have been interested in tours, vacationing and purchasing properties in Dubai for years actually, but now they became the fourth largest group of home buyers as the newest report published in July of 2022, says.
From Reuters: "Rich Russians are trying to shift some of their wealth from Europe to Dubai to shield assets from a tightening wave of Western sanctions on Russia over its invasion of Ukraine, financial and legal sources said.
"Dubai, the Gulf's freewheeling financial and business hub, has long been a magnet for the globe's ultra-rich and the United Arab Emirates' refusal to take sides between Western allies and Moscow has signaled to Russians that their money is safe there.
"The number of Russian buyers surged 164% in the first half of this year from the first half of 2021”
From Bloomberg: "Dubai's property market is recovering from a seven-year slump, helped by factors including an increase in Russian buyers looking to safeguard their wealth. The city's nimble handling of the pandemic also helped shore up the market, a key sector for the Middle East's business hub.
"The recovery is supported by improving economic performance fueled by high oil prices, Fitch Ratings said in a report: "The sector is further benefitting from an influx of skilled workers and wealthy individuals from Russia to the UAE due to its neutral stance over the crisis and the relative ease of obtaining UAE visas for Russian nationals."
From CNBC: "Russians were always among the top 10 nationalities investing in Dubai property. But there's been a spike since February, as some of these buyers were also liquidating their assets in other countries and moving those funds over here.
"Many Russian buyers also make their purchases in cryptocurrency, as several of Dubai's major property firms have started accepting digital currency payments."
From Russian Forbes, translated: "Russians are attracted to Dubai by low taxes, open borders, no lockdowns and various friendly visa programs."
3000 properties for sale in Dubai are listed on one of the leading Russian real estate portals Prian. They are condos, villas, commercial properties and lots of land. The price range is from multimillion villas to under one hundred dollars apartments.
Thus, you see how to collect the info from the public sources on the recent attitude of the Russian buyers towards your country real estate purchasing and it will help you with your property international marketing and selling.
Note: There are countries with a downward trends, too.
Need help? Just email me.
To your best business success,
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