Sudden Surge in Dubai Property Prices Causes Russians to Lose Interest in Dubai Property!
Real estate brokers say that Russian real estate purchases in Dubai have slowed down over the past few months, following a year that saw the ruble lose a quarter of its value and a natural dip after a year of rapid buying in the aftermath of the Ukraine invasion. According to brokers, some Russians who resettled in Dubai decided that Dubai simply wasn’t for them, and they moved elsewhere. Real estate in Dubai has long been popular with Russians, who flocked to buy property in the United Arab Emirates in 2022 as international sanctions hammered Russia’s economy and finances in the wake of the country’s annexation of Ukraine. The real estate boom in the UAE since the start of the … Read more