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According to a recent analysis by Savills, Dubai surpassed the world's leading residential real estate markets in 2022, as capital value increased by 12.4% compared to a 3.2% increase in capital value in major cities around the world.
The emirate is expected to see a steady increase in capital value in 2023, as Savills expects prices to rise by up to 7.9% in the best areas of Dubai. Savills put the Emirate in first place in its ranking of cities with first-class housing for 2023.
The cost of luxury real estate in Dubai has reached US 7884 per square meter, which makes the emirate one of the most attractive real estate markets in the world.
The expected growth in prices for primary real estate in Dubai at the level of 6% to 7.9% will be lower than the growth of 12.4% that was observed in 2022.
According to Savills analysis, it is expected that in 2023 the growth rate of the global luxury housing markets will slow down significantly, with an average price increase of 0.5% in 30 cities around the world.
