A report issued by the "Knight Frank" real estate consultancy showed that the Emirate of Dubai ranked first in the world on the "Prime International Residential 100" index of luxury homes.
Dubai ranked first after luxury real estate prices rose 44% last year, the highest increase for any city ever. Even more striking was the demand for real estate over $10 million.
The index analyzes the main price performance in 100 cities and their real estate markets around the world, according to the Emirati newspaper Al Bayan.
According to experts, the UAE's response to the pandemic and the rapid pace of vaccination, as well as the introduction of integrated projects, the adoption of innovative initiatives in the issuance of visas and a package of economic reforms, have all strengthened Dubai's position. In the eyes of buyers around the world.
The report also showed that the Russian capital, Moscow, ranked second in terms of the speed of growth in basic real estate in 2021.
The recent wealth report pointed out that of the luxury real estate markets that were tracked, only seven experienced price declines during 2021, while 35% of the Sites saw an increase of 10% or more. This led, according to the report, to an increase in the demand for secondary market homes, as there are more than 200,000 of them around the world owned by the wealthy.
