LONDON — U.K. house prices will fall by up to 10% this year, as higher mortgage rates and the broader cost of living crisis curtail home buying, Lloyds Bank CEO Charlie Nunn told CNBC on Tuesday.

Dubai rents have soared to unprecedented levels, reaching an all-time high. This is due to the influx of expats and travelers, as well as the increasing demand for housing. The average annual rent for a villa — family homes — in Dubai surged by about 25% to 282,150 dirhams ($76,817) in the year to December and average apartment rents jumped 27% to 95,168 dirhams, according to CBRE. The average price of apartments rose 9% and villas 12.8% in that period.  

Saudi Arabia’s real estate market could boom over the next ten years, with investors drawn to the Kingdom by the government’s multimillion dollar economic projects, such as NEOM.