Dubai’s property market is racing towards a record bull run, with the Middle Eastern commercial hub’s buoyant economy and swelling population fuelling the longest price rally since the eve of the 2008 financial crash.
Properties in Dubai sold for an average of Dh1,750 ($476.50) per square foot last month, according to data provider Reidin, a surge of 75 per cent from February 2021.
Some question how long the meteoric price rises can continue in a city that has experienced two boom-bust cycles since its property market opened up in 2003.
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