Russian investment in Dubai's real estate market is slowing down, with Russians being the 3rd largest buyers in 2023, down from 1st in 2022. Reasons include rising living costs and stricter bank rules. The allure of Dubai for Russians is diminishing due to surging living expenses and stricter enforcement of U.S. sanctions by banks. While Russian money flows into the UAE are slowing, experts do not anticipate a widespread cash exodus from the country. Property investment from Russians in Dubai has decreased due to increasing rents and daily expenses.
Russians cooling on Dubai – Bloomberg Property investment has reportedly slowed due to rising rents and daily expenses https://t.co/OfAi3LfGDT https://t.co/GYx4BsdFLS
Russian money flows into the UAE are showing signs of slowing, according to bankers, executives and investment professionals. None of them predict a widespread exodus of cash already in the country. https://t.co/R1PyezzUAU https://t.co/tGCjQH9kSL
The allure of Dubai is dimming among Russians as the cost of living in the glitzy emirate surges and its banks get stricter in enforcing U.S. sanctions. https://t.co/XvUYuML02I
Dubai became a hot favorite with Russians looking to park money or build new lives after the invasion of Ukraine. That allure is now dimming https://t.co/fDwWuOOifC via @wealth
Dubai: Money from Russia is slowing - Russians were 3rd largest real-estate buyers in 2023, after ranking 1st in 2022 - Investment-based immigration trending down - Many consider moving back or elsewhere Why? - Rising living costs - Stricter bank rules https://t.co/XvGS1IEvBS