Dubai Property 15th In World’s Most Expensive List

Despite the recent property crash, the past few years have seen Dubai property truly excel. From relatively humble beginnings, Dubai now has masses of freehold property developments, many of which are now known the world over. The opening up of the market to foreigners and then the introduction of freehold property ownership created quite a storm in what was once a small and a sleepy Emirate, transforming the city into one of the most glamorous and well known locations in the world. And as very been very apparent to those who have been living in the city these recent years, all this change has certainly resulted in large prices rises seen across all areas of Dubai. While some areas of Dubai life can still be considered good value many areas have really seen prices shoot up and nowhere has this been more obvious than with Dubai freehold real estate.

As Dubai’s star began to rise and more and more people realized the potential investment benefits of Dubai real estate and the great life style on offer in the city, so did property prices start to skyrocket. And in a recent list complied by Research Company Global Property Guide, Dubai has now come in at 15th place in a list of the worlds most expensive property locations. The list, headed by Monte Carlo, was compiled by comparing 120 square meter high end apartments in 110 cities across the world in 2008. At USD 7,151 per square meter Dubai property was good enough for 15th place, but those complaining of Dubai property prices should be glad they don’t live in Monte Carlo which was almost seven times more costly, coming in at a substantial USD47, 587! Moscow came in second place at USD20, 853 per square foot, with London just behind in 4th place.

Clearly Dubai properties still are not that expensive in comparison to some other cities across the world, although it may certainly not seem quite like that all the time. Of course some would argue Dubai is still a new and growing city, and shouldn’t be compared to more established cities in order to claim value for money just quite yet. It is not quite clear when the result were taken, and if the recent property crash seen with Dubai residential property was taken into account with the results. Either way, Dubai property has certainly made a strong impression given its short life.
 

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