Prices for high-end, luxury real estate rose 5.4 percent in the first quarter 2013 in Dubai, the Arabian Busneiness.com reports. Dubai experienced price increases on premium properties of 18.3 percent in 2012.
Knight Frank Global Cities Index compiled the info for Q1 2013. Dubai ranked fourth with Jakarta, Bangkok, and Miami being the top three areas with rising prices in its high-end properties.
Knight Frank said it expects stronger growth to emerge in the second quarter of 2013 as buyers continue to search for luxury bricks and mortar as a way of sheltering their assets from the Eurozone’s continuing turmoil and the fragile global economy.