Dubai Surges Ahead: Luxury Real Estate Prices Soar 16.5% in Global Rankings

New data from Jefferies James places Dubai above global heavyweights like New York, Singapore, and London

Dubai has cemented its position as one of the world’s most dynamic luxury real estate markets, recording one of the highest annual rates of property price appreciation globally. According to a new market analysis by London-based prime property brokerage Jefferies James, the emirate saw luxury property values rise by 16.5% over the past year—ranking second only to Madrid in a study of 15 leading international markets.

The report, which compared year-on-year performance in Q4 2024 across key global cities, highlights Dubai’s continued momentum amid a backdrop of uneven growth across the luxury property sector worldwide. While Madrid topped the list with a 20.3% increase in property values, Dubai outperformed traditionally strong markets such as New York (+4.2%), Singapore (+3.9%), and Geneva (+3.6%). Meanwhile, London, Berlin, Vancouver, and Sydney saw marginal growth of just 0.4%, and markets like Paris (-3%), Auckland (-4.8%), and Hong Kong (-8.2%) registered annual declines.

"Dubai continues to buck the trend, with its real estate sector exhibiting robust growth driven by high investor confidence, strategic government initiatives, and a globally appealing lifestyle offering.”

Damien Jefferies, Founder of Jefferies James

Commenting on the findings, Damien Jefferies, Founder of Jefferies James, said, “The global landscape currently presents a rather mixed bag with respect to property price performance. However, Dubai continues to buck the trend, with its real estate sector exhibiting robust growth driven by high investor confidence, strategic government initiatives, and a globally appealing lifestyle offering.”

The report notes a growing wave of international interest in Dubai’s prime residential sector, especially from investors looking to diversify into high-growth, high-yielding markets. The emirate’s business-friendly environment, Golden Visa programme, and continued expansion of luxury infrastructure have made it a compelling proposition for ultra-high-net-worth individuals (UHNWIs) and institutional investors alike.

Despite muted growth in some legacy markets, Jefferies says the current market environment is presenting new opportunities. “We’re seeing a heightened degree of activity from luxury buyers, who recognise that now is the time to act in order to take advantage of less buoyant conditions in some cities, while also capitalising on rapid growth in others—Dubai being a prime example,” Jefferies added.

Dubai’s luxury property market has remained one of the most resilient globally, consistently outperforming broader economic headwinds. With continued development in waterfront communities, branded residences, and high-end hospitality-led living concepts, industry experts believe the city’s upward trajectory is set to continue through 2025 and beyond.

For investors eyeing long-term capital growth, asset diversification, and access to a strategic global hub, Dubai remains firmly on the map.

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