Russians in 2022 became the leaders in buying real estate in Dubai among foreigners. The top five buyers also included the British, Indians, Italians and the French. Back in 2021, Russians were third, behind residents of India and the UK.
According to Intermark Real Estate, in 2022, the number of transactions that the company conducted in Dubai with Russians tripled. The reason is the countrys loyalty to customers from Russia (there are no restrictions and sanctions), a high standard of living and favorable conditions for doing business.
According to the company, apartments were the most popular among Russians in 2022: their share in total sales was about 70%. This is followed by villas and commercial real estate. Among the most popular locations were Business Bay, Downtown, Dubai Marina. Transactions in the primary villa market were concentrated in the Damac Lagoons project, the Jebel Ali First area and in the southern part of Dubai.