Residential villas on the waterside of the Palm Jumeirah in Dubai on Feb. 24, 2022. Russians were always among the top 10 nationalities investing in Dubai property, according to Tahir Majithia, managing partner at Dubai-based Prime Capital real estate.
Christopher Pike/Bloomberg via Getty Images
Wealthy investors betting on luxury real estate would do best by putting their money in Dubai or Miami next year, according to a new report.
In a ranking 25 of the world’s top luxury, or “prime,” real estate markets, Dubai topped the list, with prices expected to increase 13.5% in 2023, according to real estate consultancy Knight Frank. Miami ranked second, with prices expected to increase 5%. Dublin, Lisbon and Los Angeles followed, with 4% expected increases.
The worst performers next year are expected to be Seoul and London, with prices expected to drop 3% for both. New York ranked in the…
