Based on the most recent data published by BetterHomes, Indian property investors overtook Russians as the biggest buyers of real estate in Dubai in 2023.
According to the figures, the buyers from Britain and Russia placed second and third, respectively. This represents a change from the 2022 scenario, in which the top three positions in the local real estate market were occupied by Russians, British, and Indians.
High net worth individuals and a surge in the number of expatriate workers in the emirate drove prices of both villas and flats in Dubai to new highs last year, fueled by extraordinary demand in 2022 and 2023.
Foreign investors have also been drawn to the real estate market by its high capital and rental returns; last year, they invested billions of dirhams.
“Dubai’s real estate market has attracted attention worldwide because it provides investors with good returns, security, a lavish lifestyle, tax efficiency, and an environment conducive to business for its expatriate community. More than 100,000 new people moved to Dubai in 2023, demonstrating the city’s lasting attraction and steady expansion, according to BetterHomes CEO Richard Waind.
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