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Dubai’s property market has seen the fastest rising prices in the world over the past year to the end of September, a new Knight Frank report has shown.
Prices in the emirate have increased by more than 28 percent since the third quarter of 2012, according to the Knight Frank Global House Index, compared to an average rise of 4.6 percent across the 55 markets covered worldwide.
The index showed that Dubai real estate values have jumped nearly 12 percent in the past six months and by 4.5 percent since the previous quarter.
“The index’s strong performance has been assisted not just by headline grabbing price rises in Dubai, China and Hong Kong, but also in a number of emerging markets,” said Kate Everett-Allen, associate at the London-based property consultancy.