The value of most villas in Dubai doubled in the last four years, says a report of ValuStart on residential capital values in Dubai. However, in the case of apartments, only units in Palm Jumeirah have seen their prices double in the last four years.

Villa monthly capital gains were at 2.5% compared to 2.4% in June and 33.4% since last year. Notably, top annual performers include villas in highly sought-after areas like Palm Jumeirah (42.9%), Jumeirah Islands (42.7%), Dubai Hills Estate (38%), and Emirates Hills (33.8%).

Month on month (MoM), apartment prices rose by 2%, up from 1.9% in June, maintaining record annual growth of 23.8%. Among the areas with the highest apartment capital gains compared to last year are Discovery Gardens (34.6%), The Greens (34.1%), Palm Jumeirah (30.8%), and The Views (30%).

Overall, residential capital gains of ready homes in Dubai accelerated, with July sales offsetting the declines observed in June.

Sales transactions

Contract registrations for off-plan homes skyrocketed by 59.6% annually and 40.6% monthly, accounting for a record 68.5% of all sales.

Prime locations such as Dubai Hills Estate and Dubailand Residence Complex witnessed exceptional demand, breaking their respective records for off-plan sales. Palm Jumeirah also experienced a surge in off-plan villa transactions driven by a unique redevelopment project.

Emaar, Damac, Danube, and Nakheel emerged as the leading developers, collectively capturing over 40% of the market share. Dubai Hills Estate, Jumeirah Village Circle, Business Bay, and Dubai Creek Harbour were the most sought-after locations for off-plan properties.

While off-plan sales dominated the market, ready home transactions also recorded substantial growth, increasing by 27.2% annually and 23.7% MoM. Jumeirah Village Circle, Dubai Marina, Business Bay, and Downtown Dubai remained the preferred areas for ready home purchases.

This surge in both off-plan and ready home sales underscores the continued confidence of investors and end-users in Dubai’s real estate market.

Villa monthly capital gains were at 2.5% compared to 2.4% in June and 33.4% since last year. Notably, top annual performers include villas in highly sought-after areas like Palm Jumeirah, Jumeirah Islands, Dubai Hills Estate, and Emirates Hills

Aletihad