Russian demand for real estate in Dubai has grown by 40 percent since the start of Expo 2020 
Demand of Russians for real estate in Dubai (United Arab Emirates, UAE) grew by 40 percent after the start of Expo 2020, that is, from October 1, 2021, according to the materials of the Russian agency Golden Brown Group, received by the editorial board of Lenta.ru.
As analysts say, the most buyers from Moscow, St. Petersburg and Siberian cities are active in the real estate market of this Asian city. In addition, immigrants from the Far East and oil and gas regions rushed to buy housing in Dubai.
Unlike representatives of other countries, buyers from Russia prefer apartments in coastal residential complexes, experts say. Priority – new buildings with the possibility of payment by installments. As a rule, Russian citizens buy apartments at a price of $ 500 thousand or more, which are planned to be commissioned in the next five years.
“Both Dubai in general and the local real estate market in particular are recovering from the pandemic. Over the past month, prices have risen by about 3 percent, and since the beginning of the year, growth has averaged about 15 percent. We expect that demand and property prices in Dubai will continue to grow during Expo 2020, especially in coastal areas, ”predicts the Golden Brown Group.
The World Expo 2020 is taking place in Dubai from October 1, 2021 until March 31, 2022. Initially, it was supposed to take place from October 20, 2020 to April 10, 2021, but was postponed due to the COVID-19 pandemic. The organizers have retained the name Expo 2020.