Luxury home prices in Dubai have risen by 5.4% during the first quarter of the year.
- Luxury properties have risen in price by 5.4% during Q1
- They have also increased in value by 18.3% over the last 12 months
- Dubai is placed fourth in the list of the most luxurious place to buy a property
The value of luxury homes in Dubai has risen in the first three months of the year, a report by Knight Frank has revealed.
They increased in price by 5.4% during Q1 2013, while the values of high-quality properties have jumped by 18.3% over the last year.
As a result of this rise in prices, Dubai’s property market has become the fourth most luxurious real estate sector in the world.
The Prime Global Cities Index, reported by Gulf News, made a list of the top 29 cities around the globe with luxury property markets.
Among these cities were Jakarta, Bangkok and Miami, which had price growth of 38.1%, 26.1% and 21.1% respectively over the last year.