Property prices in Dubai have increased by 28 percent

It is reported that the fastest rise in property prices in the world was observed in Dubai last year.

Dubai is one of the centers of attraction in the Middle East in terms of trade and tourism. According to the global housing index published by the consulting company Knight Frank, property prices in Dubai, the commercial heart of the United Arab Emirates, have risen 28 percent year-over-year since the third quarter of 2012. Dubai has become the city with the highest growth in house prices in the world. House sales in Dubai have grown 8 times! In Dubai, where home sales bottomed out for a while, sales are now peaking in 8 years. The average growth in the 55 markets analyzed was 4.6 percent.

According to the study, property values ​​in the Emirate have grown 12 percent in the past six months and 4.5 percent over the previous quarter. In addition, experts warned against the risk of a new bubble, which was observed before the 2008 crisis, after Expo 2020 was held in Dubai. Other vital markets where property prices increased were China, Hong Kong and Taiwan, while Asian markets ranked first. According to the index, property prices in southern Europe have declined, in contrast to Asia, while sharp declines have been observed, especially in Croatia, Spain and Greece. Among the countries studied, property prices fell in 17 countries, and all but three losses were recorded in Europe.