Inside the Report
Q4 2021 recorded the highest quarterly transaction volume for residential sales in history. Exceeding previous forecasts, the valuation-based house price index VPI expanded 16.6% annually to 76.3 points. However, on a quarterly basis it sustained a similar rate as seen during Q3 with an increase of 5.1%. Dubai residential rents witnessed a record annual increase since 2014, as market rents went up 18.9%. The Dubai office VPI saw prices surpass pre-Covid times, particularly for Grade A shell-and-core space. Office asking rents saw sustained increases both annually and quarterly after periods of decline, jumping 10.1% and 6.6% respectively. Listed office rents recovered fully this quarter from falls seen during the pandemic.
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