Dubai experiences the second highest growth in property prices
17/03/2013
As part of the improving economy in Dubai, the Emirate has witnessed a total of 20 per cent increase in property values that led the latter to be a city with the second highest growth not only in the UAE but throughout the world. Actually, it was just driven by the price of luxury villas in 2012 according to the Global Property Company, Knight Frank.
In addition, such growth was also generated by the lower prices as well as underpinned by the Emirate’s location as an Economic Hub in particular which has been the reason behind such increasing number of business and leisure travelers coming in Dubai from the Middle East, North Africa, Indian Subcontinent, and Central Asia.
Based on the report, the Citibank which is an International Financial Institution said that the ongoing recovery of Dubai’s property industry was indeed in line with the wider economic upturn as well as strong economic fundamentals of the Emirate that started in the previous years particularly.
Now, in comparison, the prime space in Dubai that has a total of 169 square meters can be purchased by investors for $1 million; while only 16 square meters in Monaco for the similar price; 19 square meters in HongKong; 23 square meters in London; 38 square meters in Singapore; and 88 square meters in Mumbai, India. Moreover, with regards to property prices per square feet, in HongKong, the prices were ranging between $4, 570 and $5, 050 per square ft; between $3, 890 and $4, 300 in London; between $2, 720 and $3,010 in Geneva; between $2, 350 and $2, 600 in Paris; between 2, 340 and $2, 580 in Singapore; between $2, 040 and $2, 260 in Moscow; between $2, 030 and $2, 240 in New York; between $990 and $1, 100 in Mumbai; and lastly for Sao Paulo, the prices only ranged between $660 and $730. Then, for Dubai, it was placed in the rank 19th that has had the prices between $510 and $570 per square foot in the previous year.
In addition, such growth was also generated by the lower prices as well as underpinned by the Emirate’s location as an Economic Hub in particular which has been the reason behind such increasing number of business and leisure travelers coming in Dubai from the Middle East, North Africa, Indian Subcontinent, and Central Asia.
Based on the report, the Citibank which is an International Financial Institution said that the ongoing recovery of Dubai’s property industry was indeed in line with the wider economic upturn as well as strong economic fundamentals of the Emirate that started in the previous years particularly.
Now, in comparison, the prime space in Dubai that has a total of 169 square meters can be purchased by investors for $1 million; while only 16 square meters in Monaco for the similar price; 19 square meters in HongKong; 23 square meters in London; 38 square meters in Singapore; and 88 square meters in Mumbai, India. Moreover, with regards to property prices per square feet, in HongKong, the prices were ranging between $4, 570 and $5, 050 per square ft; between $3, 890 and $4, 300 in London; between $2, 720 and $3,010 in Geneva; between $2, 350 and $2, 600 in Paris; between 2, 340 and $2, 580 in Singapore; between $2, 040 and $2, 260 in Moscow; between $2, 030 and $2, 240 in New York; between $990 and $1, 100 in Mumbai; and lastly for Sao Paulo, the prices only ranged between $660 and $730. Then, for Dubai, it was placed in the rank 19th that has had the prices between $510 and $570 per square foot in the previous year.
Advanced Dubai Maps
Our Advanced maps give you detailed information such as Plot numbers, Building Pictures, Location and Views.
I need a job. As marketing manager
Aloha from Maui, Hawaii....My name is Mark, I'm a broker with Maui Coast Properties and have several vacation rentals available.
"No Commission" & "No Down Payment" & "No Cheques" Ready to move Apartment France Cluster. DubaiZoneDXB@gmail.com
0525115511
Sajad
Need 2 villas in Spring, vacant only,type 4, Side by side or opposite to each other.
Required Full building for sale in Dubai freehold areas.
Budget upto 100 million
