Russian, British citizens top buyers of nonresidential property in Dubai
The war in Ukraine is driving more Russians to buy property in Dubai’s flourishing real estate market.
Dubai’s booming real estate market is being abetted by the war in Ukraine.
The Emirati real estate broker Betterhomes released a report Tuesday on Dubai’s real estate market in the third quarter of 2022. Russian citizens were the nationality with the most nonresidential real estate purchases in the quarter, followed by Brits, according to the report.
Betterhomes’ managing director told Reuters that the war with Ukraine and Russia’s military draft are driving Russians to purchase property in Dubai.
On British citizens buying homes in Dubai, Betterhomes said people from there “see the value of buying real estate in Dubai and the various benefits it undoubtedly offers such as safety, sunshine and endless opportunities.”
