Russian and CIS investors account for over 20 pct of potential homebuyers in Dubai

Russian and CIS investors account for over 20 pct of potential homebuyers in Dubai

Investors from Russia and the 11 other Commonwealth of Independent States (CIS) countries now represent more than 20 percent of potential homebuyers in Dubai, according to a new report.

Dubai-based property consultants Mira Estate led the report, which also revealed that the average price tag ranges from $680,000 (AED2.5 million) for individuals and $6.8 million (AED 25 million) for high-net-worth individuals (HNWIs),

The report further showed the share of real estate investments in Dubai by Russian and CIS individuals is 10 percent to date this year. Most investors are looking for ready units and waterfront properties.

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Tamara Getigezheva, CEO & Partner, Mira Estate, said: “The real estate investor pool in Dubai is shifting to a Russian-speaking set. We were able to quantify this shift and measure it by looking at the number of real estate leads we generate, as individuals registered their interest in our property offerings across the city over the past four months.

“Eastern Europe is witnessing an unprecedented level of geopolitical instability, which has led to an influx of investors and families entering Dubai not only from Russia, but more so from other CIS countries. Non-Russian CIS