Luxury homes in Dubai increased up to 44% in 2021 due to decisive pandemic response

Due to high demand from wealthy buyers, Dubai tops the global Prime Price Index, and luxury homes surged their prices up to 44% in 2021. The decisive and effective handling of pandemic response attracted investors globally fuelling a turnaround in the fortunes of Dubai’s luxury home residential market. “Dubai’s investments in world-class infrastructure, health, and education, coupled with the exceptional lifestyle and amenities, from the world’s best restaurants and hotels have helped transform the city into a destination that people want to own a property in," the partner and head of Prime Residential at Knight Frank Middle East, Andrew Cummings said. After seven years of decline, the relative value of Dubai came to fruition in 2021. Moscow came in second place with 42% of growth. Meanwhile, San Diego rose to 28.3%, Miami was at 28.2%, and Hampton rose to 21.3%, making up the top 5 of the 100 luxury residential property market tracks in Prime International Residential Index (PIRI 100). JMS/ Expat Media
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