Dubai Property Prices Surge 24% in a Year on High Demand
Prices in Dubai's freehold residential market rose 4.8% in the second quarter, with annual gains hitting 24%, Knight Frank data shows.
Prices in Dubai's freehold residential market rose 4.8% in the second quarter, with annual gains hitting 24%, Knight Frank data shows.
Dubai’s residential real estate upswing is extending to the outskirts, with luxury project prices in key areas hitting records, according to ValuStrat, an appraisal and research firm.
Dubai's real estate market has entered an era of strong, sustainable growth that is the best in history, Invest-Gate reports.
The number of hotel apartments in Dubai totalled 25,500 units within 193 properties by the end of May, according to statistics from Dubai's Department of Economy and Tourism.
Dubai's real estate prices have witnessed remarkable increases recently, although they remain significantly lower than their counterparts in major global cities, Invest-Gate reports.
W Capital Real Estate, headquartered in Dubai, said that real estate sales in the emirate are on track to hit record levels during the 2023 summer season amid exceptional demand, Invest-Gate reports.
Branded residences have become a hot segment in Dubai's real estate market, with a report showing the emirate has the highest concentration in Europe and the Middle East, Invest-Gate reports.
Dubai's real estate market recorded its highest first-half sales value ever at AED 180 bn, according to data from the emirate's Land Department.
Sales of real estate properties in Palm Jumeirah have surged by 41% in the first half of this year, as compared to the same period in 2022, with a total value of AED 13.5 bn from 1,463 deals, Invest-Gate reports.
Real estate research company CBRE reports that residential property prices in Dubai rose the fastest in almost a decade, increasing by 16.9% in the year ending June 30, Invest-Gate reports.