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Dubai leads all cities in the world in increasing the capital value of luxury real estate over the next year, according to the forecasts of the British company “Knight Frank” for real estate studies and consulting, and the results of the “Luxury Housing Forecasts 2023” issued by the company.
According to the company’s report, the capital value of luxury housing in Dubai, such as the residences built in luxury areas such as “Palm Jumeirah”, “Emirates Hills” and “Jumeirah Bay”, is poised to witness the strongest growth among all cities in the world.
The company stated that the expected increase in the capital value of luxury housing in Dubai during 2023 will reach 13.5%, compared to 2022.
The company also expected two American cities to come in second and third place, namely Miami and Los Angeles, with growth rates of 5% and 4%, respectively.
