While many of the new buyers come from countries like Switzerland, Germany and France—wealthy Russians have been flocking to Dubai to park their assets. Unlike many Western nations that have sanctioned Russians for their country’s invasion of Ukraine, the UAE hasn’t imposed such measures.
, home prices in Dubai were forecast to slow down by 6.5 percent in 2022 and 3 percent in 2023. However, others say the market doesn’t show too many signs of slowing down anytime soon.