Dubai September 8, 2021: For only the second time in six years, all 13 villa locations and 21 apartment areas monitored by the VPI have seen their capital values either stabilise or improve when compared to the previous month.
For villas, the highest annual capital gains were found in Arabian Ranches (22%), Jumeirah Islands (20.8%), Dubai Hills Estate (18.5%) and The Lakes (18.3%). Annual capital value performance of Dubai’s apartments, which represent 87% of the residential market, were a mixed bag as compared to villas. A third of all apartments witnessed negative annual growth, a third stable, and a third had single digit annual capital growth. The month of August saw sales transaction volumes up 49% when compared to July. Month-on-month performance saw ready sales rise 57% and off-plan Oqood (contract) registrations expand 42%.
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For VPI monitored apartments, the top annual performers in terms of capital gains were in Palm Jumeirah (6.8%), Jumeirah Beach Residence (6.1%), Al Furjan (4.6%) and Al Quoz Fourth - Al Khail Heights (4.1%).
Topping the sales charts overall were properties developed by Emaar (21.5%), Nakheel (8.6%), Damac (6.1%), and Dubai Properties (6.1%). Top off-plan locations transacted in August were in Dubai Harbour (11.8%), Business Bay (9.2%), Jumeirah Village (9%) and Sobha Hartland (7.8%). Most transacted ready homes were located in Jumeirah Village (8.4%), Business Bay (7.5%), Al Furjan (7.2%), Dubai Marina (6.9%), Downtown Dubai (5%), and Dubai Hills Estate (4.5%)