Dubai (Etihad)
Residential values in the world’s tallest skyscraper, Burj Khalifa, have risen by 23%, according to real estate consultancy Knight Frank.
Faisal Durrani, Partner and Head of Middle East Research, Knight Frank, said: “The year 2021 has seen a massive revival of the luxury residential market in Dubai, and Burj Khalifa falls in this category, registering around $2,100 per square foot, an estimated increase of 23% over the past year. Compared to 8% for the rest of the properties in Dubai.
Durrani added: “Downtown Dubai has also seen average price increases of more than 17% over the past 12 months and buyers are still not hitting zero in the city’s most exclusive neighborhoods, and many of them are new buyers in the market. To Dubai because the emirate is now one of the safest, if not the safest cities in the world as the spread of Covid-19 has been effectively contained.
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