Villas, which represent 13 per cent of the residential market in Dubai, spearheaded growth with a quarterly increase of seven per cent and an annual expansion of 6.3 per cent
Dubai villa prices sustained an upward trend during the second quarter of 2021 as end-users and investors flocked to strike deals for ready-to-move properties, latest data shows.
Villas, which represent 13 per cent of the residential market in Dubai, spearheaded growth with a quarterly increase of seven per cent and an annual expansion of 6.3 per cent.
“Up to 10.3 per cent record annual gains were registered in prime villa locations and most of the Dubai’s areas recovered their capital losses of last year,” according to a ValuStrat report released on Wednesday.
The report said June sales transactions leapfrogged May by 68 per cent while month-on-month performance saw ready-home sales surged 75.5 per cent and off-plan Oqood (contract) registrations expanded 59.5 per cent. It further said residential sales volumes during the April-June quarter surpassed 7,500 transactions, breaking the previous quarter record, and every other quarter since 2010.
“Transacted price per square foot has crossed Dh1,000 for the first time in three years,” according to ValuStrat’s VPI report for April-June 2021 quarter.
The highest annual capital gains were recorded in Arabian Ranches (10.3 per cent), Jumeirah Islands (9.1 per cent), Dubai Hills Estate (nine per cent), The Lakes (8.2 per cent), Mudon (7.7 per cent), and The Meadows (7.2 per cent) as the investors and end-users preferred to move in these areas.