Several Posh Dubai Neighborhoods Record Price Growth After Declines

Average Sentiment: Highly Positive (5.83)
Thursday 21:54 GMT
Category: Economy

Multiple neighborhoods in Dubai saw annual home price growth—in some cases for the first time since 2014—in the first quarter of this year, according to a report from Knight Frank on Tuesday.

A few luxury neighborhoods in the Middle Eastern financial hub saw significant price growth compared to the mainstream market following years of declining prices throughout the city. The positive performance of a few markets underscores the fragmentation between established areas with few new off-plan developments and areas like Downtown Dubai, which continues to suffer from oversupply.

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