Knight Frank Supports the International Valuations Standards
Interest into London real estate has recently shown an uptick, following a period of subdued market activity. Underlying signs that pent-up demand and the conditions for a recovery in the prime London residential market are building. Developments such as The Bryanston, Hyde Park, by Almacantar, are seeing strong levels of interest, particularly from an international audience, and sentiment among industry professionals at this end of the market is optimistic.
For Dubai the tourism market has historically been a strategically important sector. In 2017 it is estimated that the sector contributed over AED150bn to GDP (4.6% of GDP), and provided almost 570,000 jobs (4.8% of total employment).
As is now generally accepted, holiday homes have had a discernible impact on the global hospitality market; however, these affects are not felt universally within Dubai.
In Dubai’s holiday home market there are currently 10,766 active* listings out of a total of 20,395 properties which have been registered on the Airbnb platform since 2010. That’s a growth rate of 161% since 2016.