Dubai Apartments Up 25% and Villas Climb 33% in a Year

Over the past 12 months, Dubai has experienced a significant rise in residential property prices. Apartment prices have surged by 24.8%, while villa prices have increased by an impressive 33.1%.

Villa prices increased by 2.3% monthly, with significant annual growth in areas such as Palm Jumeirah (42.8%), Jumeirah Islands (42.3%), and Dubai Hills Estate (35.3%). On the other hand, lower capital gains were observed in Jumeirah Village Triangle (20%) and Mudon (20.4%).

Apartment prices saw a monthly increase of 1.9%, with the highest annual gains in Discovery Gardens (33.5%), The Greens (33%), and Palm Jumeirah (30.9%). Jumeirah Beach Residence (17.6%) and Dubai Sports City (17.8%) had the lowest annual gains.

Off-plan property registrations, known as Oqood, grew significantly, with a 254.2% annual rise, contributing to nearly 75% of home sales in September. Additionally, ready secondary-home transactions increased by 10.9% monthly and 19% annually. Developers such as Emaar, Damac, and Sobha led the sales, while top off-plan locations included Jumeirah Village Circle and Damac Hills 2.

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Source:https://www.khaleejtimes.com/business/realty/dubai-apartment-prices-rise-almost-a-quarter-over-the-past-12-months

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