VILLA COMMUNITIES IN DUBAI WITNESS DOUBLING IN PRICES
DUBAI REAL ESTATE: VILLA COMMUNITIES WITNESS DOUBLING IN PRICES, SURPASSING 2014 PEAKS
This resurgence in Dubai's real estate market, particularly evident in villa communities where valuations have doubled since the pandemic, is highlighted by the ValuStrat Price Index (VPI), which indicates a monthly acceleration of 2.4 percent and an impressive annual growth of 16.8 percent, reaching 98.9 points, surpassing the peaks observed in 2014. Top-performing villa communities such as Jumeirah Islands, Palm Jumeirah, Dubai Hills Estate, and Mudon exhibit remarkable annual growth rates ranging from 23.9 percent to 28.3 percent.
Apartments, valued at 81.3 points, still trail behind villas at 126.9 points. The apartment submarket records a remarkable 12.5 percent annual capital growth, the highest in a decade, with the best performers located in Palm Jumeirah, Discovery Gardens, The Greens, Motor City, and Town Square, showcasing annual capital growth between 15.8 percent and 22.1 percent. Villa prices have surged by 2.7 percent since September and 21.6 percent since last year, with top-performing communities mirroring strong annual growth rates.
Apartments, valued at 81.3 points, still trail behind villas at 126.9 points. The apartment submarket records a remarkable 12.5 percent annual capital growth, the highest in a decade, with the best performers located in Palm Jumeirah, Discovery Gardens, The Greens, Motor City, and Town Square, showcasing annual capital growth between 15.8 percent and 22.1 percent. Villa prices have surged by 2.7 percent since September and 21.6 percent since last year, with top-performing communities mirroring strong annual growth rates.
RELATED NEWS
Dubai Leads Q2 Sales of Luxury Homes Over $10 Million
In the second quarter of 2023, Dubai led the global market in residential sales valued at over $10 million,
DUBAI’S REAL ESTATE MARKET PREDICTED TO GROW 15% IN 2024
In 2024, Dubai's real estate market is poised for significant growth, estimated at approximately 15%,
