Unprecedented demand for real estate in the UAE among Russians

Despite the stable growth in real estate prices in the United Arab Emirates, the demand for housing in this country among Russians is not decreasing. On the contrary, in the first half of 2021, there were more people wishing to buy a house or an apartment in the UAE - this figure increased 15 times over the year.

It is worth noting that the majority of foreign buyers of residential properties in the Emirates are investors - for them the acquisition of such housing is a way of profitable investment, and not a search for a new place of permanent residence. That is why the greatest demand is observed in the elite housing market.

There are several reasons why foreign investors choose the UAE:

• When buying an object from a developer, there is no need to pay a commission.
• A wide price range and a large number of offers on the market are available.
• There is no annual property tax.

In addition, the country itself beckons foreign guests with its pleasant climate, developed infrastructure and social order.

It is worth noting that many Russian investors buy houses and apartments in the UAE for the purpose of their subsequent leasing.

Current housing prices in the country

Prices for residential properties range a lot. The cost largely depends on the region in which the housing is located.

Today the prices look like this:

• the most expensive apartments in Dubai can be purchased at prices ranging from 20 to 40 million euros;
• large comfortable villas in Dubai will cost about 10-15 million euros;
• the average price for an apartment in the country is 100-300 thousand euros;
• the average cost of houses is 1 million euros;
• the most budget apartments start from 60 thousand euros.

Such prices can be called average compared to many other resort countries in Europe and the world. Therefore, prices should also be attributed to the advantages that stimulate the growth of demand for housing in the UAE.