Real Estate
Dubai Cements Status as World’s Busiest Luxury Property Market
- Sales of homes worth $10 million or more reach a record
- Value of prime home sales are $4.91 billion so far this year
The Dubai Marina district of Dubai.
Photographer: Christopher Pike/BloombergDubai cemented its status as the world’s busiest market for luxury homes with buyers pouring $1.59 billion into high end properties during the third quarter, according to Knight Frank LLP.
The number of sales for homes worth $10 million or more reached a record 277 in the first nine months of the year with $4.91 billion of transactions, putting the emirate firmly ahead of cities such as New York and Hong Kong, the property consultant said.