Russians have helped make Dubai’s property market red hot—again

Dubai's property market is soaring due to high energy prices and Russian influx, with apartment rents rising 28% YoY. Concerns of a property market bubble remain.

April 9, 2023 . 10:12 AM

1 min read

Dubai's property market is booming due to high energy prices and influx of Russians.
Annual inflation hit a 14-year high of 7.1% last summer, partly due to soaring petrol prices.
Apartment rents rose by 28% in the year to February, to almost $27,200, due to high demand.
Dubai's property-sale market is also booming, with apartment prices at their highest in almost a decade.
Rental rates in popular areas may be peaking, while less desirable inland areas are seeing growth.