More apartment communities in Dubai are rapidly approaching or surpassing their 11-year price peaks, a report showed on Monday. At the same time, villa values have surged to stand 63 per cent above their 2014 highs.
The ValuStrat Price Index reached 214.1 points in April, marking a 1.6 per cent monthly increase and a 25.3 per cent rise year on year. Villa values climbed to 280.5 points, while apartments reached 170.9 points, all benchmarked to a base of 100 points in January 2021.
Villa capital values grew 2 per cent monthly, with an annual increase of 29.8 per cent. The strongest annual performers included villas in Jumeirah Islands (41.7 per cent), Palm Jumeirah (41.3 per cent), Emirates Hills (29.6 per cent), and The Meadows (28.9 per cent). Meanwhile, the lowest gains were recorded in Mudon (8.9 per cent), which has remained relatively stable for the eighth consecutive month. Dubai’s freehold villas are, on average, valued 63 per cent above the previous market peak in 2014 and 170 per cent higher than post-pandemic levels.
Apartment prices rose by 1.1 per cent monthly, recording an annual growth of 20.9 per cent. The highest yearly capital gains were seen in The Greens (26.5 per cent), Dubailand Residence Complex (24.8 per cent), Palm Jumeirah (24.5 per cent), Town Square (23.7 per cent), and The Views (23.6 per cent). In contrast, the lowest capital value increases were recorded in International City (13.5 per cent) and the Burj Khalifa (16.9 per cent). “Apartment valuations are, on average, 69.2 per cent above post-pandemic levels, but 7 per cent below the previous market peak during 2014, however, The Views is the latest community to cross previous price highs after Palm Jumeirah, The Greens, and Jumeirah Beach Residence,” a ValuStrat report said.
Off-plan vs ready homes
Oqood registrations for off-plan homes rose by 22.6 per cent monthly and 61.5 per cent annually in April, accounting for 71.6 per cent of total residential sales.
Meanwhile, ready secondary-home transactions also rebounded, increasing 12 per cent from the previous month and 49.6 per cent annually, following a slower March impacted by the holy month of Ramadan.
New player enters Dubai market
Marking its entry into the UAE’s real estate sector, Elton Real Estate Development has launched its maiden residential project, Védaire Residences, a boutique luxury development located in the heart of Meydan Avenue.
Set on a rare corner plot with three open sides, Védaire offers uninterrupted views of Burj Khalifa, the Meydan Racecourse, and surrounding landscaped gardens. The development includes 43 apartments and three commercial showrooms spread across five floors.
Anmoll D Shroff, Founder & Chairman of Elton Real Estate Development, said, “Meydan Avenue offers a rare blend of connectivity, exclusivity, and future growth potential. It’s a location that aligns with our vision of crafting meaningful living spaces. As a developer entering the market, it also gives us the opportunity to create something distinct without being lost in the density of high-rise clusters."
Construction of the project is expected to begin in Q3 2025, with handover slated for Q3 2027. Prices start at Dh1.35 million for one-bedroom units, while two-bedroom residences begin at Dh2.21 million.
Prime home sales
There were 31 transactions for ready properties priced over Dh30 million, situated in Dubai Hills Estate, Palm Jumeirah, Jumeirah Bay Island, Downtown Dubai, Al Barari, Dubai South, Business Bay, District One, and Jumeirah Golf Estates.
April 2025 saw Emaar (13.4 per cent), Damac (10.8 per cent), Binghatti (7 per cent), Nakheel (4.3 per cent), Azizi (3.5 per cent) and Danube (2.6 per cent) lead the developer sales charts overall.
Top locations
Top off-plan locations transacted included projects in Jumeirah Village Circle (9.5 per cent), Damac Island City (8.1 per cent), Dubai Production City (6.1 per cent), Business Bay (5.2 per cent), and Dubailand Residence Complex (4.6 per cent). Dubai Marina broke its individual record with the highest number of off-plan homes traded in one month. Meanwhile, most ready homes sold were in Jumeirah Village Circle (8.5 per cent), Business Bay (8 per cent), Dubai Marina (5 per cent), Meydan One (4.3 per cent), and Downtown Dubai (3.6 per cent). Business Bay broke its individual record with the highest number of ready homes traded in one month
For a detailed perspective on the property market, visit: Dubai - VPI Residential Capital Values - April 2025
