Why Russian buyers are attracted to Dubai’s realty market?

Maria Shurshalina, a 20-year-old Russian from Sverdlovsk, has been able to see the graph take off since she arrived in Dubai six months ago. In double-quick time, the current marketer with intelligent aviators, who likes high-priced smells, has grown to be a hit realty broker. Her success reflects the growing Russian interest in the emirate. Within the last few weeks, the clever brokerage has offered Russian investors over ninety-two properties, as well as flats, villas, and townhouses.

“According to a realistic estimate, property costs in Palm Jumeirah, Downtown, Dubai Marina, Jumeirah Beach Residence, and Dubai Hills have increased by over 30%. In Dubai and the UAE, Russians like the sun and sand. “However, they might be astute investors,” Maria adds.

Buyers see a lot of value for money. The emirate’s ease-of-doing-business, tax-free system, and low-cost credit programs are all huge draws for Russians looking to buy a home far away from home.

Brokers estimate that since the start of the Ukraine crisis, at least 100,000 Russians have landed in Dubai, increasing the size of the community. Many students are also looking for homes in Ras Al Khaimah and Fujairah, where Russian signage on businesses and restaurants has been prevalent throughout the years.

Maria considers the benefits. “An investment of Dh750,000 in a property secures a three-year residence, whilst a larger investment can secure a longer-term Golden Visa for my compatriots.” Consider the story of Roman Igonin, a Russian businessman who first visited Dubai five years ago and fell in love with the city. “I should have visited Dubai at least ten times by that time.” As I own residences in Downtown and The Palm, the time is ideal to start organizations right here.” Roman is interested in starting a chain of dental clinics in Dubai – at least five at first. He wants to zero down on the Dubai Hills, Business Bay, and Marina.

Celebrities, attorneys, students, artists, and professionals may all be attracted to Dubai through its use. Pavel Durov, the Dubai-based entirely original father of the messaging software Telegram, has a position version in all of them. Durov was identified as the wealthiest UAE inhabitant by Forbes final yr, with a fortune of $17.2 billion, up from $3.four billion in 2020. Durov became the first UAE resident to be included among the world’s top two hundred billionaires.

Brokering in Russia Denis Scvortsov has been a resident in Dubai since 2011, but only joined the real estate market two years later. He mostly focuses on off-the-beaten-path projects. Pavel S, one of his clients, summarises the Russian story. “I usually visit Dubai twice a year.” For a long time, I considered contemplating a real estate investment. My husband and I had been planning to purchase a home in 2020, but we were unable to make it happen. Now, we’re on the verge of being driven with the help of the current condition of events in our country. We needed to transfer our money to another nation, and we chose Dubai and the UAE because it’s one of the few places that can accept them.

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