Residential property prices in Dubai continue to rise supported by strong demand
A report by the real estate consulting company “Valuestrat” showed that the residential real estate price index in Dubai rose by 18% on an annual basis in June 2022, amid a continuing upward price trend.
Residential property prices in Dubai rise 18% in June
Travel ticket prices between Dubai and Cairo and vice versa until Monday, July 11, 2022
Residential property prices in Dubai rise 18% in June
Travel ticket prices between Dubai and Riyadh and vice versa until Monday, July 11, 2022
Valustrat added in its report, today, Thursday, that the price of residential real estate in the emirate increased by 1.1% on a monthly basis, bringing the index to 81.5 points.
The strong growth in the price index was supported by the growth in villa prices, which recorded 99.2 points last June, the highest level since 2013.
The capital values of villas in Dubai grew moderately at a monthly rate of 1.7%, while annual increases exceeded 32.2% by the end of June 2022.
According to the report, the best performance for villa prices was in the Arabian Ranches area (38.8%), Jumeirah (36.6%), The Lakes (34%) and The Meadows (33%).
Residential apartments
The report showed that residential apartments in Dubai rose marginally by 0.5% on a monthly basis only in June to 70.4 points, while the annual increase recorded about 8%.
The best increases in apartment prices came in the Palm Jumeirah area (19.6%), followed by Burj Khalifa (18.1%), and Jumeirah Beach Residence (14.8%)
The lowest annual price growth in Dubai was in Production City (0.5%), Discovery Gardens (0.8%), and Motor City (1.5%). As for Dubai Sports City, there was no change in housing prices compared to the same period last year.
The volume of home sales in Dubai increased by 41.6% in June compared to May, and was 38% higher than the same period last year, according to the report.
Ready real estate sales increased by 46.7%, while off-plan sales increased by 35.5%.
The report stated that the month of June witnessed a record-breaking 29 transactions, each worth more than 30 million dirhams, while one transaction was executed for a five-bedroom villa located on Palm Jumeirah for a value of slightly more than 126 million UAE dirhams.
Real estate prices in Dubai have witnessed noticeable increases, but they remain primarily linked to an increase in real demand for real estate. Despite these recent increases, they are still much lower than their peak 8 years ago. However, expectations give an indication that it has exceeded what was recorded in 2014 by no means. Especially in light of the availability of attractive opportunities in the sector that currently require seizin
