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Prices of luxury properties in Dubai rose by 48.8 per cent in the year to June, setting the pace once again as the world’s leading property market.
The strong price growth meant Dubai maintained top position in the Knight Frank Prime Global Cities Index, a well-respected international survey and a place it has now occupied for eight consecutive quarters. Since hitting a pandemic low in the third quarter of 2020, luxury property prices in Dubai have soared by 225 per cent. Real estate markets are in flux, so why is Dubai’s property scene booming?