The firm says the emirate is seeing steady growth as a broad recovery continues. ‘Average asking prices in Dubai stand at AED5.1 million while those in the capital figure at AED3.3 million,’ said Renan Bourdeau.
‘Whilst Abu Dhabi’s property prices have increased over the course of this year, Dubai’s residential prices have risen more significantly, widening the gap in property values between the two emirates,’ he added.
The firm believes that in contrast to 2008, Dubai’s price increases so far this year have been built on solid fundamentals such as trade and tourism.
Those seeing the steepest rises include areas such as Business Bay, Jumeirah Village Circle, Jumeirah Park and Dubai Sports City in addition to prime communities such as Dubai Marina, Downtown Dubai and Palm Jumeirah.
