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Dubai defies luxury property slowdown with 5.4 pct rise in prices

Posted on 30 April 2013

Dubai has defied a global slowdown in the luxury property market after witnessing a 5.4 percent rise in prices during the first quarter of this year, according to Knight Frank. The emirate came fourth in a ranking of the world’s luxury property markets, behind only Jakarta, Bangkok and Miami in terms of price rises, the property consultancy said.
Prices of luxury villas and apartments in the emirate rose by 5.4 percent in the first quarter compared with the final three months of 2012, Knight Frank said. That represented an 18.3 percent increase on the first quarter of last year………………………………………..Full Article: Source


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