Dubai Records Highest Global Property Price Growth Since 2020
According to Deutsche Bank’s 2025 “Mapping the World’s Prices” report, Dubai has experienced the highest increase in city-center property prices worldwide over the past five years. With prices rising 122% since 2020, the emirate has moved up 15 spots globally to rank 37th in the list of most expensive cities.
Property Prices Soar in Dubai’s City Center
The cost of purchasing an apartment in central Dubai now averages $7,602 per square meter, fueled by unprecedented demand from both international investors and new residents. In contrast, Hong Kong, although still the most expensive at $25,946 per square meter, saw a 20% drop over the same period.
Comparative City-Center Prices (2024):
Dubai: $7,602/m² (↑122%)
Abu Dhabi: $5,977/m² (↑64%)
Doha: $4,944/m²
Riyadh: $2,664/m²
Istanbul: $3,036/m²
Real Estate Growth Backed by Strategic Reforms
Dubai’s real estate rise is attributed to:
10-year Golden Visa extension
Residency for remote workers and retirees
Continued economic diversification
These initiatives have attracted high-net-worth individuals (HNWIs) from Saudi Arabia, the UK, India, and China. Knight Frank reports that ultra-luxury deals in areas like Jumeira Bay Island have increased in size and volume.
Rent in Dubai Among the Highest Globally
Deutsche Bank also ranked Dubai 10th globally for highest rent of a 3-bedroom city center apartment, which now costs $4,589/month, up 49% over recent years.
Cities by Rent (3-Bedroom, City Center):
New York – $8,388
Singapore – $6,216
Boston – $6,091
London – $5,560
San Francisco – $5,424
Dubai – $4,589
Dubai also ranks 8th worldwide for one-bedroom rent at $2,401/month.
Market Cooling Expected in 2025
Despite the boom, Fitch Ratings expects a moderate correction in H2 2025, possibly with 15% price drops. However, analysts remain confident due to:
Record population growth
Sustained housing demand
A mature real estate sector
Mortgage Affordability & Purchasing Power
Dubai, Riyadh, and Doha are in the top 10 globally for mortgage affordability relative to income. This reflects a strong purchasing power-to-price ratio, making property buying more feasible for residents.
Most Affordable Housing Markets (Top 5):
Chicago
Riyadh
Johannesburg
Brussels
Birmingham
Dubai and Abu Dhabi Score High in Global Rankings
Dubai ranks #15 globally in net salaries: $4,064/month (+35.7% in 5 years)
Abu Dhabi ranks #18 in quality of life (commuting, safety, healthcare)
Dubai is #19 for overall livability and safety
Doha and Riyadh rank #23 and #31 respectively
High Cost of Living in Some Areas, Affordable in Others
Car prices are among the highest in Abu Dhabi, similar to Singapore and Copenhagen
Gas prices remain low in Dubai, Doha, and Riyadh
Gym memberships are most expensive in Doha ($119), followed by Riyadh, Dubai, and Abu Dhabi
iPhones are cheaper in the US and South Korea, while Istanbul has the highest prices
Internet and mobile services are costly in Abu Dhabi and the wider Middle East
