Annual nominal change in house prices in select countries in MEA 2010-2024

In 2024, the United Arab Emirates was the country with the highest nominal increase in house prices among the Middle Eastern and African countries under observation. In the first quarter of the year, house prices in the United Arab Emirates rose by over 18 percent annually, whereas globally, the increase was three percent. These figures are based on the development of the nominal house price index, with 2010 chosen as a baseline year. Furthermore, it is important to note that the nominal index does not account for the effects of inflation, meaning that price growth in real terms was slower.