Dubai’s Prime residential market in Dubai set for world’s strongest growth

Prime residential prices in Dubai – including Palm Jumeirah, Emirates Hills and Jumeirah Bay Island – are set to experience the strongest price growth globally, according to a new property report.

“Dubai’s prime residential market has and continues to be a global outlier, with record price growth in 2022, albeit this has been from a low base,” he said. “Prime values are being fueled by Dubai’s safe-haven status, an exceptionally diverse range of international ultra-high-net-worth individuals in search of luxury second homes, combined of course with the government’s world-leading response to the pandemic, which has spurred business confidence.”

“Adding to the city’s appeal is its relative ‘affordability’, with prime homes transacting for around US$800 per square foot, making Dubai one of the most ‘affordable’ luxury residential markets in the world. Overall residential prices trail 2014 peak levels by 21.4 percent.