Dubai prices the highest

Dubai continues to be ranked the first city among 34 emerging countries with the highest average residential prices at $7,000 (Dh25,711) per square metre as of February, according to a recent survey.

"Dubai's exposure to the real estate market has been the highest and hence even after the slowdown in the real estate sector, the city continues to have the highest average residential prices amongst other emerging countries," said Ahmet Kayhan, Chief Executive, Reidin.com.

According to the latest market data released by the company, residential prices in Abu Dhabi and Riyadh have not risen as much as Dubai due to their limited exposure to real estate.

Reidin's market data revealed that after Dubai, Singapore has emerged as the second city with the most expensive residential properties with an average sales price at $6,600 per square metre, followed by Moscow at $6,000, Hong Kong at $5,400, Beijing at $4,500 and Tel Aviv at $4,200 per square metre. Other cities in the top 10 cities according to the data include Ljubljana, Prague, Saint Petersburg and Muscat.

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