Dubai property market to experience the biggest price growth in the world by the end of 2023

Dubai property market to experience the biggest price growth in the world by the end of 2023

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Dubai, UAE: The Dubai property market is expected to witness the biggest price growth in the world by the end of 2023, surpassing top cities such as Miami and Paris, according to a “Dubai Property Market Forecast for 2023” report. Even though the cost of prime properties is expected to increase 50% by the end of 2023 when compared to 2021, luxury housing in Dubai is still more affordable than anywhere else in the world despite massive price growth projections.

The increased prices are directly correlated to the overall increase in sales, where the emirate has witnessed a total amount of AED 261 billion registered in 2022. This is a 75% increase from the AED 149 billion that was logged in 2021, and the sector was recently forecasted to surpass this target and reach AED 300 billion by the end of 2023. ZāZEN Properties, a leading sustainable property developer in the UAE, highlights the significance of this growth, especially for the