SG and Dubai seen to be top cities for prime capital growth: Savills

It was forecasted that Singapore’s growth will be between 6% to 7.9%.

Both Singapore and Dubai will tie up in the rankings of top cities to get highest prime capital value growth this year, property expert, Savills, said.

In a statement, the forecast prime price growth for Singapore is between 6% to 7.9% is similar to 2022’s 6.8% capital value growth. For Dubai, its prime price growth is projected between 6% to 7.9%, which is subdued compared with its 12.4% capital value growth in 2022.

Following Singapore and Dubai, Miami is projected to have a slower prime capital value growth of 4% to 5.9%. 

In its outlook, Savills sees that prime residential world cities will decelerate this year, with a price growth of 0.5% across 30 cities being monitored.

Savills also said 17 cities are expected to have slower growth compared to 2022, whilst 13 cities will have equal or slightly enhanced growth. 

Southern European cities, such as Milan and Athens, are forecast to have low to modest capital value growth. Hong Kong's prime prices are expected to fall by 7.9% to 6% due to strict health restrictions and global economic conditions.