Dubai - VPI Residential Capital Values - November 2024

The Dubai residential market experienced a softening in monthly growth during November 2024, alongside an overall decline in monthly sales, despite maintaining robust annual capital gains. This edition of the ValuStrat Price Index (VPI) highlights significant milestones, including specific communities crossing decade-long price peaks.

• Citywide residential capital values (VPI) reached 197.3 points, registering a 1.8% monthly increase—a slight slowdown from the previous month—and a 27.9% annual rise.
• Villa capital values achieved 253.7 points, reflecting a 2.1% monthly gain and an exceptional 31.9% annual increase.
• Apartment capital values grew to 160.5 points, with a strong annual growth rate of 23.9%.
• The Greens joined Palm Jumeirah in officially crossing its decade-long price peaks.
• Transaction volumes saw a monthly decline, with off-plan (Oqood) registrations dropping 41.9% and ready secondary-home transactions falling 8.9% compared to the previous month.

Institutional investors and family offices requiring a valuation-anchored baseline to track the softening of monthly growth against high annual capital gains.

Lenders and risk management teams seeking independent, evidence-based metrics on the declining monthly transaction volumes to accurately underwrite real estate exposure.

Real estate developers requiring clear visibility into top off-plan locations—such as Jumeirah Village Circle and Jumeirah Village Triangle—to strategically plan upcoming project pipelines.

High-net-worth individuals (HNWIs) and active market participants seeking to validate pricing strategies in prime locations, tracking the specific transactions for ready properties priced over AED 30 million.

Policymakers and government entities focused on monitoring sustainable price growth and market cycle shifts.

This comprehensive index equips decision-makers with the empirical clarity required to navigate Dubai's residential property cycle in November 2024.

• Benchmark individual residential assets and portfolios against authoritative, citywide capital value trajectories for villas and apartments.
• Understand the precise valuation dynamics between exceptional annual growth and the continued softening of monthly capital gains to optimise asset allocation.
• Track shifting market liquidity through detailed analysis of off-plan registrations versus ready home sales volumes.
• Support complex pricing, acquisition, and risk mitigation decisions using an independent, valuation-led index based on actual market data.