Villas continue to drive Dubai real estate in 2022

The ValuStrat Price Index, which monitors Dubai‘s total residential capital fee performance, reported that property costs increased 18.8% year over year and 1.2 percent month over month. Villas were at the forefront of this trend, with prices rising 34.1 percent annually but with a steady growth rate of 2.1 percent.

Apartments saw a single-digit annual increase of eight.4 percent, with a slight month-to-month increase of 0.4%. In March 2022, the typical residential VPI hit 79 index factors. While this is a 21 percent decline from January 2014 100-factor index base, Dubai’s traditional condominiums’ VPI hit 69.5 factors, while traditional villas’ VPI nearly surpassed the index base at 94.1 factors.

Villa’s capital values increased at a monthly rate of 2.1 percent, although expenses in a few areas, such as Mudon (0.5%), and Green Community West (0.5%), increased marginally (0. eight percent ). The average cost of a villa has increased by 34.1 percent in a year. Jumeirah Islands (40.3%), Arabian Ranches (40.3%), The Lakes (37.1%), and Jumeirah Village (37.1%) have all performed exceptionally well (35. five percent ). Villas in Palm Jumeirah increased by 5.3 percent to 126.6 indexes in March 2022, surpassing their 2014 highs.

All condominium locations evaluated with the assistance of the valuation-primarily based completely index experienced excellent annual capital profits averaging eight.4%. The Palm Jumeirah (21.9%), as well as established areas like Jumeirah Beach Residence (16.3%), the Burj Khalifa tower (15.3%), The Views (10.9%), and The Greens (10.9%), had the best yearly condominium overall performance with double-digit growth (nine.7 according to cent).

Dubai’s domestic income increased by 26.1 percent in contrast to the previous month and 146.6 percent over the same period last year. Coin and loan revenue of ready homes, as well as off-plan Oqood (contract) registrations, increased 26 percent month over month, accounting for 43 percent of typical transactions. In March, there were 15 sales for more than Dhs 30 million, including one for Dhs 75 million for a 6-bedroom mansion in Emirates Hills.

According to Ata Shobeiry, CEO of Zoom Property, villas will continue to show their dominance in March, with a 2.1 percent month-to-month increase, despite the condominium quarter seeing a minor 0.4% increase in expenses. “With new projects in the works, the gap between the fee boom of villas and homes is likely to narrow gradually,” Shobeiry added.

Customers may subscribe to ValuStrat’s premium membership plans, which provide them access to in-depth, statistical analysis of what’s going on in residential real estate, allowing them to make more informed decisions and plan ahead. The citywide evaluation of freehold areas is included in the 100+ page Dubai file, which contains the ValuStrat Price Index, transaction volumes, provider charges, Price to Rent Ratios, and Net Yields.

Source: KhaleejTimes

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