Is it worth waiting for a rise in prices for luxury housing in Dubai in 2022: Knight Frank’s data

According to a new report by Knight Frank, published on Tuesday, prices for luxury housing in Dubai increased in 2021, outpacing the growth in the luxury real estate markets in the United States.

Such an increase in prices was due to the «relentless demand» from wealthy buyers who are attracted by the good quality of life in the emirate, as well as the decisive measures of local authorities in the fight against the pandemic. However, last year's growth is unlikely to be repeated in 2022.

Prices in Dubai increased by 44% during 2021 after a seven-year slump, as a result of which the emirate took first place in Knight Frank Prime International Residential Index 100, which tracks real estate prices in 100 cities and in secondary housing markets around the world.

In 2022, the luxury housing market in Dubai, as well as Miami and Zurich will continue to lead. Prices are expected to rise by 10-12% by the end of the year.