Dubai prices bounce back as world performance drops, says knight frank

Dubai’s property prices rose in the final stages of 2011 according to global consultancy Knight Frank.

The company’s ‘Global House Price Index’ (GHPI) showed that Dubai’s price appreciation put it at 12th-place out of 52 worldwide destinations surveyed in terms of price rises for the last quarter…compared to 26th for the whole of 2011.

Prices rose just 0.5% over the full year, said Knight Frank.

However the global outlook faltered in the main as the GPHI results for Q4 represented the index’s weakest quarterly performance for over two years.

Source: OPP.org.uk