Dubai residential capital values rose in November 2023 according to the ValuStrat Index (VPI)
Dubai villa market has exceeded market peaks of 2014 over 50%
Compared to October 2023, VPI increased by 2.2%:
– For Villas rose by 2.5%
– For Apartments rose by 1.9%
Compared to November 2022, VPI increased by 18.4%:
– For Villas rose by 23.3%
– For Apartments rose by 14.1%
Areas with the highest annual capital gains:
Villas:
Jumeirah Islands – 30.4%
Palm Jumeirah – 29.4%
Dubai Hills Estate – 29.2%
Apartments:
Discovery Gardens – 24.3%
Palm Jumeirah – 23.9%
The Greens – 22.2%
Rental prices continued to rise in November 2023
– According to the commercial real estate services company, CBRE.
Average annual rents increased by 19.2% from November 2022:
Apartments rose by 19.6%
Villas rose by 16.6%
In November 2023, the average annual rental prices are:
Apartments – $30,000
Villas – $88,000
Leading areas in terms of the highest rental prices:
Apartments – Palm Jumeirah ($70,000)
Villas – Al Barari ($313,000)