In the real estate sector of Dubai, there has been an increase in demand for luxury real estate from citizens of Russia and China. The growth in investment volumes is due to high profitability and security for invested capital.

Analysts found that Russians are more likely to invest in real estate in areas of the emirate such as Dubai Marina, Palm Jumeirah and Jumeirah Beach Residences (JBR). Chinese investors prefer Jumeirah Golf Estates, Downtown Dubai and The Springs.

In 2022, Chinese investment accounted for 4% of the total number of real estate transactions. In 2023, this figure doubled. The growing demand of investors from Russia and China for luxury housing in the emirate is reflected in the volume of transactions. Since the beginning of the year, there has been an increase of 43% in the number of transactions for homes under construction from these types of buyers. In some areas, the number of transactions for the purpose of investment has increased by a huge 400%. And there was also an increase in demand for real estate in Dubai in the short-term rental sector.

Experts note that demand within the Dubai real estate market is outstripping supply. This leads to an increase in the cost of buying a home and the rental prices. However, the situation will normalise in the coming years thanks to the implementation of projects that are currently under construction.

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demand within the Dubai real estate market is outstripping supply

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