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| Gifer |
Dubai’s property market is ensconced in a passionate Russian romance, one that has seen investors from Russia and 11 other CIS (Commonwealth of Independent States) making up 20% of prospective home buyers in the Emirate.
Recent reports suggest Russian and CIS individuals account for 10% of realty investments in Dubai this year and most of them are snapping up waterfront and ready-to-move-in homes.
The what and why of things
Industry watchers state that the prospective investor community now has a majority of Russian speakers in Dubai.
With instability being a defining theme for Eastern Europe and the flight of more investors, their families, and capital to Dubai, this shift was expected. Non-Russian CIS buyers also comprise 10% and more of all property leads in the Emirate.
What has been a game-changer?
🎫 The new 10-year UAE Golden Visa for starters.
📈 More ease of doing business, newer job opportunities after the Dubai Expo, premier education, and luxury lifestyles - essentially the red carpet for expats (naturally, they comprise 80% of Dubai’s population today).