What can $1 million buy in the property market in Dubai and elsewhere?

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="MsoNormal"> <span style="background-color: white; color: #222222; font-family: Arial, sans-serif; line-height: 115%;"><span style="font-size: x-small;">Dubai’s prime luxury property market continues to remain affordable in comparison to key global cities despite prices rising by 17 per cent in 2013, Knight Frank’s Wealth Report 2014 reveals.</span></span><o:p></o:p></div> <br /> <div class="MsoNormal"> <span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #222222; font-family: Arial, sans-serif; line-height: 115%;"><span style="font-size: x-small;"><br /></span></span></div> <div class="MsoNormal"> <span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #222222; font-family: Arial, sans-serif; line-height: 115%;"><span style="font-size: x-small;">The UK-based real estate consultancy states that in Dubai one can buy 146 square metres of prime property for US1 million (Dh3.67 million) compared to only 15 square metres in Monaco, 20.6 square metres in Hong Kong, 32.6 square metres in Singapore and 25.2 square metres in London. <o:p></o:p></span></span><br /> <span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #222222; font-family: Arial, sans-serif; line-height: 115%;"><span style="font-size: x-small;"><br /></span></span></div> <div class="MsoNormal"> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPGigwRuriTJcj-hqlKwoOKVCadUINruzKmfgXcdTvpMFp3ci56gTeEwwqcHklh6iq1t2XYk9gj4pm4bvtZgRrno84lcFofaJaRDDY5_rmMI85BcVuYMehySsfAwZwKomZa136WnVF-zM/s1600/710847280.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPGigwRuriTJcj-hqlKwoOKVCadUINruzKmfgXcdTvpMFp3ci56gTeEwwqcHklh6iq1t2XYk9gj4pm4bvtZgRrno84lcFofaJaRDDY5_rmMI85BcVuYMehySsfAwZwKomZa136WnVF-zM/s1600/710847280.jpg" width="320" /></a></div> <span style="background: white; color: #222222; font-family: "Arial","sans-serif"; font-size: 9.5pt; line-height: 115%;"><br /></span></div> <div class="separator" style="clear: both; text-align: left;"> </div> <div class="separator" style="clear: both; text-align: left;"> <br /></div> <div class="separator" style="margin-bottom: .0001pt; margin: 0cm;"> <span style="font-size: x-small;"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #222222; font-family: Arial, sans-serif;">For US$1 million, one can buy 41.2 square metres in Sydney, 41.7 square metres in Paris, 43 square metres in Moscow, 46.2 square metres in Shanghai and 95.7 square metres in Mumbai.</span><span style="color: #222222; font-family: Arial, sans-serif;"><br /> <span style="background: white;"> </span><br /> <span style="background: white;">Among the 20 cities surveyed, Dubai is placed 19th on the list with Cape Town taking the last slot; US $1 million can buy 215.1 square metres there.</span></span></span></div> <div class="separator" style="margin-bottom: .0001pt; margin: 0cm;"> <span style="color: #222222; font-family: Arial, sans-serif;"><span style="background: white;"><span style="font-size: x-small;"><br /></span></span></span></div> <div class="separator" style="margin-bottom: .0001pt; margin: 0cm;"> <span style="background-color: white; color: #222222; font-family: Arial, sans-serif; line-height: 18.88920021057129px;"><span style="font-size: x-small;">In terms of price growth tracked by Knight Frank, Dubai was placed seventh among the list of 10 global cities surveyed. Abu Dhabi took the eighth slot on the list.</span></span></div> <div class="separator" style="margin-bottom: .0001pt; margin: 0cm;"> <span style="background-color: white; color: #222222; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.88920021057129px;"><br /></span></div> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiT3rLn8FXtamNHIA17ckSgR67r9RjuThnJG2pi-svmPye2jHX6yAJymw6Vrv89mTOeEXk59nz-UoIHuWcMkubCvUIIpShsTgg9wnfVsNvLKf0KBTuUPHCUzBnORQcwslvkGBe8NN3BrNg/s1600/ADT19231213-Property.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiT3rLn8FXtamNHIA17ckSgR67r9RjuThnJG2pi-svmPye2jHX6yAJymw6Vrv89mTOeEXk59nz-UoIHuWcMkubCvUIIpShsTgg9wnfVsNvLKf0KBTuUPHCUzBnORQcwslvkGBe8NN3BrNg/s1600/ADT19231213-Property.jpg" width="259" /></a></div> <br /> <div class="separator" style="clear: both; text-align: center;"> <a href="http://3.bp.blogspot.com/-VjvZMiT6Ql8/U0542Nbzm_I/AAAAAAAAG1U/vJVvylABN38/s1600/KF2.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="188" src="http://3.bp.blogspot.com/-VjvZMiT6Ql8/U0542Nbzm_I/AAAAAAAAG1U/vJVvylABN38/s1600/KF2.jpg" width="320" /></a></div> <div class="separator" style="clear: both; text-align: left;"> </div> <div class="separator" style="clear: both; text-align: left;"> <br /></div> <div class="separator" style="clear: both; text-align: left;"> <span style="font-size: x-small;"><span style="background-color: white; color: #222222; font-family: Arial, sans-serif; line-height: 18.88920021057129px;">As indicted above, Dubai saw a 17 per cent price increase, while Abu Dhabi registered a 15 per cent rise in 2013. The two emirates were the only ones from the Middle East to find place in the list of top 10 real estate markets.</span></span></div> <span style="font-size: x-small;"><span style="background-color: white; color: #222222; font-family: Arial, sans-serif; line-height: 18.88920021057129px;"> </span><span style="background-color: white; color: #222222; font-family: Arial, sans-serif; line-height: 18.88920021057129px;">Jakarta was placed first with a price increase of 37.7 per cent followed by Auckland 28.8 per cent and Bali, placed third, with a price rise of 22 per cent in 2013.</span><span style="background-color: white; color: #222222; font-family: Arial, sans-serif; line-height: 18.88920021057129px;"> </span><span style="background-color: white; color: #222222; font-family: Arial, sans-serif; line-height: 18.88920021057129px;">The consultancy pointed out that average property prices in Dubai were still below the pre-crisis highs, indicating there were no fears of bubble emerging.</span></span><br /> <span style="font-size: x-small;"><span style="background-color: white; color: #222222; font-family: Arial, sans-serif; line-height: 18.88920021057129px;"><br /></span></span> <span style="font-size: xx-small;"><span style="background-color: white; color: #222222; font-family: Arial, sans-serif; line-height: 18.88920021057129px;">Article source: </span><span style="color: #222222; font-family: Arial, sans-serif;"><span style="line-height: 18.88920021057129px;">http://bit.ly/1kxt4uQ</span></span></span><br /> <br /> <div class="separator" style="margin-bottom: .0001pt; margin: 0cm;"> <span style="background-color: white; color: #222222; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.88920021057129px;"><br /></span></div> </div>

Dubai’s prime luxury property market continues to remain affordable in comparison to key global cities despite prices rising by 17 per cen...

Read more »