Emerging markets remain popular

Demand for property in emerging markets across the world is not likely to fall, industry analysts have stated.

According to Knight Frank, average property prices per square foot in Dubai have gone up more than half in the last year.

This is despite the fact that demand for prime residential property in many western countries has dropped as a result of the credit crunch

Commenting on this development, Knight Frank said it shows that less-established countries with rapidly-growing economies remain popular with investors.

Liam Bailey, head of residential research at Knight Frank, commented: "Demand is not going to evaporate, wealth creation and accumulation in emerging economies and in specific high end service sector activities will continue."

Earlier this month, AMEInfo revealed that Abu Dhabi is also proving to be a popular region with investors.

The off-plan market in particular was said to be performing strongly.

Visit our off-plan property United Arab Emirates page.

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