High-rise tower buildings along the central Sheikh Zayed Road in Dubai on July 3, 2023.
Karim Sahib | Afp | Getty Images
Dubai’s luxury home prices surged by nearly 50% in the year up until June, maintaining its top ranking for the eighth consecutive quarter, according to a new report by Knight Frank.
According to data released Wednesday from the property consultancy firm, prices in Dubai have skyrocketed 225% since hitting a pandemic low during the third quarter of 2020. The Emirate kept its crown in the ranking for the eighth consecutive quarter.
Taking second and third places were Tokyo, which saw an annual 26.2% rise, and Manila, which climbed 19.9%.
Other noteworthy increases were…