Dubai residential capital values rose in June 2023

Dubai residential capital values rose in June 2023 according to the ValuStrat Index (VPI)

Dubai villa market has exceeded market peaks of 2014 by 1.2%

Compared to May 2023, VPI rose by 1.4%:

• For Villas – by 1.7%
• For Apartments – by 1%

Compared to June 2022, VPI increased by 11.7%:

• For Villas – by 15.8%
• For Apartments – by 8.1%

Areas with the highest annual capital gains:

Villas

• Jumeirah Islands – 20.8%
• Emirates Hills – 19.6%
• Palm Jumeirah – 17.9%

Apartments

• Palm Jumeirah – 16.6%
• The Greens – 11.4%
• JBR – 9.8%

Average rent in June rose by 22.8% from June 2022:

• Apartments – by 22.7%
• Villas – by 23.1%

According to the global commercial real estate services, CBRE

In June 2023, the average rental prices:

• Apartments – $28,500
• Villas – $84,600

Leading areas in terms of the average rental prices:

• Apartments – Palm Jumeirah ($70,300)
• Villas – Al Barari ($284,000)