Dubai tops the list of global markets in luxury real estate sales… surpassing the most important countries


Dubai topped the list of global markets in luxury real estate sales for the year 2023, and the emirate surpassed famous international cities such as London, New York, and Sydney, as it formed the largest market for luxury real estate in the last quarter of 2023, according to a recent report by the real estate consulting agency “Knight Frank.”

In the fourth quarter of 2023, the emirate witnessed 108 sales of luxury real estate, villas and residential units, the price of which exceeds $10 million each, which is an increase from 95 sales in the second quarter, which was the highest during the previous three quarters.

In total, there were 411 sales in 12 markets around the world covered in the last three months of last year until December, compared to 370 in the same period of 2022.

Dubai was followed by London and New York with 52 sales each, Sydney ranked fourth and Geneva fifth, with strong activity throughout the same quarter. (Economic Statement)

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