| Even though luxury property prices in the UAE climbed by around 20 percent in 2012, it remained more affordable than some of the other top global cities. The Wealth Report 2013, prepared by Knight Frank, a global property company, shows that the price of prime luxury property in Dubai as at least 10 times lower than Monaco, the world’s most expensive residential property market.
Figures of the report suggest that, in fourth quarter of 2012, property prices in Dubai ranged between USD 520 and USD 580 per square feet. On the other hand, prime real estate cost between USD 5,350 and USD 5,920 per square feet in Monaco during the same period last year. In the list of 20 cities, Dubai was positioned on 19th rank, only ahead of Cape Town...............................................Full Article: Source
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