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According to Zoom Property Insights, Dubai's real estate market will continue to grow in 2023, as further increases in real estate prices and annual rents are forecast due to increased demand and interest from wealthy individuals (HNWI) and foreign investors.
According to the latest data from Zoom Property Insights, real estate prices in Dubai are expected to grow by an average of 20% in 2023, while the luxury market will continue to dominate with a growth rate of 13.5%.
According to Ata Shobeyri, CEO of Zoom Property, the real estate market will maintain its growth rates due to high demand from end users, as well as foreign and domestic investors.
Citing a recent Knight Frank report, Zoom Property Insights predicted that luxury residences in Dubai will have another exceptional year, with prices expected to rise by 13.5% in 2019. Of the top 25, this indicator has grown the most.
Los Angeles, Paris and New York are among the famous cities on the list, while Miami ranks second with an expected price increase of 5%.
According to Zoom Property Insights, the Palm Jumeirah apartment market recently saw the biggest price increase by 5%. It was followed by MBR City, Meydan City and Living Legends. The average price of housing has increased in all these settlements by 4.7%.
