Knight Frank has launched the 13th edition of The Wealth Report, providing a global perspective on prime property and wealth.

The annual publication includes the Knight Frank City Wealth Index; price movements across 100 luxury residential property markets; the results of Knight Frank’s Luxury Investment Index; and, the Attitudes Survey. 

In the four major economic cities of the GCC countries, (Abu Dhabi, Dubai, Jeddah and Riyadh), UHNWI growth over this period is expected to register at 15 per cent. 

Taimur Khan, Research Manager at Knight Frank Middle East said: “Despite Dubai’s residential market having experienced headwinds in recent years, driven by lower oil prices, global economic uncertainty, the stronger US dollar (which has fed through to the dollar-pegged dirham) and the introduction of stringent mortgage regulations, we have seen substantial international investment in Dubai continue. In the first nine months of 2018 alone we have seen over 142 nationalities invest in Dubai’s market with the top 10 foreign investors hailing from countries such as India, the United Kingdom, Pakistan and China.” 

"This is driven by the city’s strong showing in The Mercer Quality of Living Survey, the Economist Intelligence Unit’s Global Liveability Ranking and Lonely Planet’s eponymous cool neighbourhood listing. 

"More so given Dubai relative value, offering 143 square metres of property for US$1m compared to the likes of New York and London’s 31 or Singapore’s 36 square metres, it is not surprising that we are observing investors acquiring Dubai residential assets as part of their portfolio, alongside their pied-à-terre in New York, a home in London for their children’s education or a second home in the south of France.” 

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