Where were the highest price increases in Dubai?

Some of the biggest rises were seen at the top end of the market. Dubai's prime property sector has boomed in the past year, with prices rising almost 60 per cent in the past 12 months.

Palm Jumeirah villa prices increased 5 per cent in April, while those of villas in Jumeirah and Jumeirah Golf Estates were up 3.7 per cent and 4.6 per cent respectively, CBRE's data showed. Al Barari villa prices increased 4.9 per cent in April.

In the apartment segment, the biggest rises were recorded on Palm Jumeirah and at Old Town, with both rising by 4 per cent.

The UAE property market has been rebounding on the back of government initiatives, such as residency permits for retirees and remote workers, as well as the expansion of the 10-year golden visa programme and the economic boost from Expo 2020 Dubai.

The market has also benefitted from the country's widespread coronavirus vaccination programme, which has kept cases relatively low.

“Despite growing concerns around the global macroeconomic backdrop, namely higher financing costs and high rates of inflation, activity in Dubai’s residential market continues to remain at historic highs," said Taimur Khan, head of research – Mena at CBRE in Dubai.

He added that in the year to April 2022, while the rate of price growth has tapered slightly (+11 per cent), rents are increasing at their fastest rate (+16.2 per cent) since October 2014.

Source: Dubai property prices