The ValuStrat Price Index for Dubai’s residential capital values reached 170.8 points in April 2024, marking a 26.1% annual increase and a 2% monthly rise.
Villas topped the previous market peak by 25.6%, with the villa index hitting 216 points, while apartments stood at 141.4 points.
The report said that the average villa valuation per square foot surpassed AED2,000 for the first time in 10 years, adding that since the pandemic period, villas in Dubai have more than duplicated in value, and apartments are nearly one and a half times more costly.
Off-plan home sales increased by 76.4% annually but declined 9.4% month-on-month, with 7,387 transactions.
The volume of ready-home sales grew 9.5% year-on-year but fell 24.2% since March, representing 30% of total residential unit sales.
Emaar led developer sales with a 19.8% market share, followed by Binghatti (8.8%), Damac (8.4%), Sobha (5%), and Danube (4.1%).
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Popular neighborhoods in Dubai
Leading off-plan locations contained Zabeel First, Jumeirah Village Circle, Ras Al Khor, and Business Bay. Famous areas for ready homes were Business Bay, Jumeirah Village Circle, Dubai Marina, International City, and Downtown Dubai.
Apartment prices grew by 1.6% monthly, with an annual boost of 21.3%. Villas saw a 2.4% monthly and 31.2% yearly capital gain.
Palm Jumeirah villas recorded the highest annual appreciation at 40.1%, while Discovery Gardens apartments led with 33.4% gains.
End Words
The Dubai real estate marketplace continues to revel in a super surge, pushed through a sturdy call for, appealing investment possibilities, and the metropolis’s position as a globally diagnosed hub for commercial enterprise and tourism.
With the present-day file indicating new peaks in residential belongings values, Dubai’s real estate sector stays an exceedingly sought-after destination for both local and worldwide investors.
The city’s dedication to global-magnificence infrastructure, monetary balance, and a wide variety of costly and affordable housing options have solidified its fame as a top-quality real estate market inside the location and beyond.
