International Business: Dubai property prices ‘set to surge’ – Gulf Digital News

International Business: Dubai property prices ‘set to surge’ – Gulf Digital News

BENGALURU: Dubai house prices will extend their rise into next year at twice the rate expected three months ago, driven by demand from foreign investors and improving affordability, according to a Reuters poll of property analysts.

With a successful vaccination roll-out and an early easing of Covid-19 restrictions, Dubai’s economy bounced back sharply this year as trade and travel sectors opened up, helping the previously ailing real estate sector.

Monthly data from the Dubai Land Department showed the city state’s property sector had its best October in eight years, momentum which was expected to continue into 2022.