Russian buyers of overseas property in Q3 2026: the UAE keeps first place with 37%, Thailand rises to 25%, Georgia to 17%
NF Group data: the UAE took 37% of overseas property purchases by Russian buyers in Q3 2026, down from 50% in the first half. Thailand rose to 25% and Georgia from 5% to 17%. What shifted, and what it means for the Dubai market.
The UAE is still the first choice for buyers from Russia purchasing property abroad. According to NF Group, the Emirates accounted for 37% of such transactions in Q3 2026. That keeps them in first place, but the share is well below the 50% recorded in the first half of the year. Thailand is second with 25%, Georgia third with 17%.
Which countries did Russian buyers choose in Q3 2026?
The ranking below comes from the consultancy NF Group and covers July to September 2026. Shares refer to the overseas transactions the study tracks, not to the total market of each country.
| Country | Q3 2026 | H1 2026 |
|---|---|---|
| UAE | 37% | 50% |
| Thailand | 25% | 17% |
| Georgia | 17% | 5% |
| Turkey | 12% | 12% |
| Mauritius | 4.5% | 5% |
| Oman | 4.5% | — |
Serbia held 11% in the first half and has dropped out of the Q3 table, while Oman has entered it.
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Why did the UAE share fall from 50% to 37%?
A smaller share does not mean a quarter fewer deals in the Emirates. A share also shrinks when other countries grow, and two did: Thailand gained 8 percentage points and Georgia 12.
The Dubai market itself is calmer than a year ago. In September 2026 the Dubai Land Department registered 11,430 sales, about 44% fewer than in the record September of 2025 — see our breakdown of the September 2026 DLD data. Buyers from any single country trade inside that same market.
How have buyer motives changed?
The purpose of the purchase has shifted. NF Group reports that purchases for personal use rose to 27% in the first half of 2026, from 13% at the end of 2025. Pure investment deals fell from 53% to 20% over the same period.
The new brief is a second home: somewhere to spend a holiday or a long stay, rented out for the rest of the year. Thailand and Georgia fit it well — resort destinations with direct flights, visa-free entry for Russian citizens and a lower entry ticket than Dubai.
Why does the UAE still lead?
Few other countries in the ranking link a home purchase to residence. In the UAE a two-year visa is available from AED 750,000 of property, and the 10-year Golden Visa from AED 2m. The tiers are set out in our guide to the UAE residence visa through property.
Tax is the second reason: the UAE levies no personal income tax and no annual property tax. Entry is the third: Russian citizens need no visa for Dubai and may stay 90 days (entry rules for 2026).
Financing is the fourth. Non-residents can take a UAE mortgage with a deposit from 20% and rates from 3.97% — the arithmetic is in our note on a UAE mortgage for a non-resident.
What is happening to prices in these countries?
NF Group sees prime residential prices across the ranked countries rising moderately, driven by inflation and higher construction costs. It expects no sharp spikes or falls.
European destinations that used to rank high — Greece, France and Spain — have lost ground, although interest in them remains. The outlook to year-end is that demand will stay with countries offering direct flights and visa-free entry.
What does this mean for a buyer in Dubai?
Fewer buyers from one country means less competition for the same units. On the resale market that strengthens the hand of whoever negotiates, because sellers now find it harder to line up the next buyer.
If the aim is a holiday home, price in the running costs as well as the entry ticket: the service charge, utility bills and, for short lets, a holiday-home permit.
If the choice is between Dubai and a resort country, compare three things: what the purchase does for your residence status, how quickly the unit can be resold, and who the next buyer will be. Our comparison of Thailand or Dubai works through those points.
Frequently asked questions
What share of overseas purchases by Russian buyers goes to the UAE?
37% in Q3 2026, according to NF Group, down from 50% in the first half of 2026. The UAE remains in first place.
Which countries make up the top three?
The UAE (37%), Thailand (25%) and Georgia (17%). Turkey follows with 12%, then Mauritius and Oman with 4.5% each.
Why are buyers from Russia purchasing abroad now?
Increasingly for their own use: owner-use purchases rose from 13% to 27%, while investment deals fell from 53% to 20%. The popular format is a holiday home that is rented out the rest of the year.
Does buying a home in Dubai give residence rights?
Yes. A two-year visa is available from AED 750,000 of property, and the 10-year Golden Visa from AED 2m. Separate conditions apply to mortgaged and off-plan units.
The residence options for property buyers in the Emirates are set out in our guide to the UAE residence visa through property.
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