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Russians bought abroad real estate most often in Turkey, the UAE, and Cyprus—FinancialTimes


The richest began to transport supercars from Russia to Dubai by plane, a source told the publication.

  • Veronika Konechna, head of Russia, Central and Eastern Europe at Aperio, told the Financial Times about the growth in demand for real estate in the UAE, Turkey and Cyprus . In the past, wealthy Russians preferred London, Monaco or Paris “because they wanted to be part of Europe,” added George Azar, executive director of Dubai real estate agency Luxhabitat Sotheby’s.
  • In 2022, 219 homes worth over $10 million were sold in Dubai, more than twice as many as in 2021. During the year, Luxhabitat Sotheby’s Dubai sold houses to Russians and immigrants from the CIS for between $600 million and $1 billion. According to an FT source close to the aviation industry in the UAE, Russians transport supercars to Dubai by plane, “usually through Poland.”
  • According to the Turkish National Statistical Agency, Russians accounted for every fourth object sold to foreigners. In total – 16,312, twice as many as in 2021.
  • Back in August 2022, Russians came out on top in buying a home in Turkey among foreigners. It is easier to get citizenship, residence permit or do business with it. At the end of the year, Turkey issued 153,000 residence permits to Russians, which is more than citizens of other countries.
  • In 2022, more than 86 thousand transactions for the purchase of housing by Russians were registered in Dubai, this is a record. Due to the growing demand for real estate in the UAE, Russian developers Samolet and Pioneer began looking for sites for the construction of their projects in December.

Source: vc

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