Dubai has achieved the highest growth in city centre property prices globally over the past five years, driven by increasing demand, according to a report by Deutsche Bank. The report, titled “Mapping the World’s Prices – 2025,” indicates that it now costs $7 602 per square metre to buy an apartment in central Dubai, marking a remarkable increase of 122 percent since 2020. The emirate has climbed 15 places in the rankings, now sitting at 37th worldwide.

Despite the increase in Dubai’s prices, Hong Kong remains the most expensive city for property, with prices at $25 946 per square metre, even after a decline of about 20 percent in the past five years. Other cities that follow include Zurich, Singapore, Seoul, and Geneva. In comparison, Abu Dhabi’s city centre prices are at $5 977 per square metre, an increase of 64 percent since 2020, while Doha, Riyadh, and Istanbul see lower prices at $4 944, $2 664, and $3 036, respectively.

The growth in Dubai’s real estate market is attributed to several government initiatives, including residency permits for retirees and remote workers, an expansion of the 10-year golden visa program, and ongoing economic diversification efforts in the UAE. Last month, Fitch Ratings predicted a “moderate correction” in Dubai’s real estate market in the second half of 2025, forecasting potential residential price declines of up to 15 percent this year. Nevertheless, industry experts express confidence in the market, highlighting strong population growth, robust housing demand, and a maturing real estate sector as signs that any correction will be limited.

Deutsche Bank also noted that Dubai ranks eighth globally for the most expensive rent for a one-bedroom apartment in the city centre, priced at $2 401 per month. Furthermore, Riyadh, Doha, and Dubai are among the top 10 cities worldwide for housing affordability, calculated based on mortgage costs as a percentage of income, indicating a favorable property price-to-income ratio in the Gulf region.

The report also highlights that Abu Dhabi ranks among the top five most expensive cities globally to buy a car, alongside Singapore and Copenhagen, where high taxes deter car ownership. Conversely, Riyadh, Doha, and Dubai offer some of the lowest petrol prices due to less taxation compared to global standards. In terms of gym memberships, Doha ranks among the most expensive cities, costing $119 per month, followed by Riyadh at $106, Dubai at $86, and Abu Dhabi at $66.

Lastly, on the subject of technology, iPhone prices are highest in Istanbul, while the US remains one of the cheapest markets for Apple products, second only to South Korea. Prices for iPhones in Riyadh and Dubai are noted to be in the mid to high range, cheaper than Europe but more expensive than in the US and South Korea. Additionally, Abu Dhabi is recognized as one of the cities with the highest internet prices globally, with the Middle East and the US noted for costly mobile and broadband services.