ValuStrat, which specializes in real estate consultancy, said that the real estate price index in Dubai recorded an increase last March by 18.8% on an annual basis, while it increased by 1.2% on a monthly basis.
Valustrat added, in a report seen by Al-Roya, that the index reading rose to 79 points last month, that is, 21% lower than the base month of January 2014, which was 100 points.
According to the report, the villa sector led price growth last month with an annual growth of 34.1% on an annual basis, while it increased by 2.1% on a monthly basis.
As for residential apartments, they increased by 8.4% on an annual basis, and a monthly growth of 0.4% in March 2022.
The highest prices recorded for villas were in the Jumeirah Islands area, at 40.3% on an annual basis, Arabian Ranches, 40.3%, The Lakes Area, 37.1%, and Jumeirah Village, 35.5%.
According to the report, villa prices in Jumeirah Islands exceeded the 2014 price peaks by 5.3%.
Apartment prices in Palm Jumeirah recorded the best annual performance at 21.9%, then Jumeirah Beach Residence 16%, Burj Khalifa 15.3%, The Views 10.9%, and “The Greens” 9.7%.
The volume of real estate sales in Dubai increased by 26.1% on a monthly basis, while it increased by 146.6% compared to March 2021 sales.