UAE: Russians are top property buyers in Dubai; Indians come third

UAE: Russians are top property buyers in Dubai; Indians come third

Russians have emerged as top property buyers in the Dubai property market, surpassing Indians, British and Italian investors.

According to the third-quarter 2022 report released by brokerage Betterhomes, Russians are followed by investors from the UK, India, Germany, France, the US, Pakistan, Lebanon, Canada and Romania.

In the first half of 2022, Indians were top property buyers in Dubai followed by citizens of the UK, Italy, Russia and France.

“Europeans have dominated the overseas buyer numbers throughout 2022. Global conflicts and the increased mitigation of Europeans have placed Russians at the top of our leaderboard as the number one non-resident buyers in Dubai. The UK holds a strong position at number two as more individuals see the value of buying real estate in Dubai and the various benefits it undoubtedly offers, such as safety, sunshine and endless opportunities,” Betterhomes said in its quarterly report.

Following the Russia-Ukraine crisis in February, a number of high-net-worth individuals from the two countries have moved to safer, stable and fast-growing countries around the world.

Interestingly, some of the top Dubai developers have also echoed Betterhomes statement.

Rizwan Sajan, chairman and founder of Danube Group, earlier said that Russians have been one of the major investors in Dubai and his property