Market News 24/10/2022

  • Prime Dubai real estate surged 70.3% 12 months to September
    • Represents highest growth among all of the surveyed countries
    • Source – Knight Frank Global Index (tracks top 5% of homes by value) – compares to just 2.5% in London
    • Dubai continues to grow while most of the rest of the world enters a property slowdown
  • Mukesh Ambani revealed as buyer of AED 600 million villa
    • Indian billionaire purchases second Palm Villa on the N Frond – previous purchase was AED 280 million
  • Pound recovers slightly as Liz Truss resigns and Rishi Sunak is favourite
    • But it is still near all-time lows at 4.15 AED, so is still a good time to sell and convert money back home

Leave a Reply

Compare listings

Compare

Discover more from Kennedy Property

Subscribe now to keep reading and get access to the full archive.

Continue reading