Two years in a row, Indian nationals have topped the list of people from around the world who have invested heavily in Dubai. According to a survey by realty firm Better Homes, Indians were the biggest investors in Dubai residential market.
The company took into consideration H1 of 2022 for its analysis. English were next in line, followed by Italian nationals. Surprisingly, Russians stood fourth in the ranking, and the French were the fifth most spenders in the desert country.
However, the surprise element was Russia which did not find a mention in the top 10 during last year’s survey. However, this year, due to extensive investments, the Russians stood in the fourth position. Last year, India stood first, followed by Britain, Italy, China, and France. It has to be noted that the Britons splurged extensively in Dubai when compared to 2021. Low-interest rates and increasing realty prices drew them to invest in the Emirate.
This year, there was a definite impact due to the Russia-Ukraine war, says Better Homes. Tax systems in their home countries and the facility to work from any corner of the world pushed many to make investments.
Meanwhile, the Chinese lagged behind due to restrictions from the government. In fact, they did not figure in the top 10 investors this year. While 68% of people invested for the future, 32% bought properties for residential purposes.