Dubai luxury property prices will continue to rise next year amid growing demand, a new report has found, after the value of sales of homes worth more than $10 million jumped 54 per cent annually in the third quarter.
Prime home prices are set to increase 3 per cent next year, “underpinned by continued robust international HNWI [high net-worth individuals] demand for premium homes, the continued inflows of global wealth (and the global wealthy) and a deepening pool of resident investors”, consultancy Knight Frank said in its latest quarterly review of Dubai’s property market on Monday.
Dubai remained the “world’s busiest $10 million + market” globally in the third quarter, recording 103 deals, up 24 per cent annually.
The emirate also recorded 17 transactions for homes priced over $25 million during the three-month period, more than twice the number recorded a year earlier, the report said.
The aggregate transaction value topped $2 billion in the three months t
Continue Reading on The National UAE
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.