According to a report by Knight Frank, Dubai’s real estate market is projected to experience the highest growth rate globally, with an estimated price increase of 13.5% in 2023. This price surge can be attributed to a shortage of new supply and an influx of ultra-high-net-worth individuals seeking second homes in Dubai. In the prime markets of Dubai, such as Palm Jumeirah and Emirates Hills, residential values saw a remarkable growth rate of 29% in Q3 2022. However, the report underscores the challenge posed by the shortage of waterfront properties and a slower pace of new project deliveries by developers.
Market Forecasts
