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Dubai prime property sector to see robust price

surge in 2024

Emirate records the world’s second-highest growth rate in 2023

by

Issac John

Published: Wed 28 Feb 2024, 8:27 PM

Prime residential values in Dubai are expected to keep the upward momentum in 2024
after recording the world’s second-highest growth rate in 2023.

Knight Frank’s 2024 global prime residential markets forecast positions Dubai in third
place at 5.0 per cent. This comes hot on the heels of an estimated 16 per cent rise in
prime residential prices in 2023 and building on the 44.4 per cent rise registered in
2022.

Of the 100 markets tracked in Knight Frank’s Prime International Residential Index, 80
recorded flat or positive annual price growth. Across the world, prices of luxury property
increased by an average of 3.1 per cent in 2023 with Manila (26 per cent) leading the
rankings and Dubai (15.9 per cent) in the second spot. The Bahamas (15 per cent)

https://www.khaleejtimes.com/business/dubai-prime-property-sector-to-see-robust-price-surge-
in-2024