Dubai residential capital values rose

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

– Dubai villa market has exceeded market peaks of 2014

Compared to August 2023, VPI rose by 2.1%:

For Villas increased by 2.6%

For Apartments rose by 1.6%

Compared to September 2022, VPI increased by 15.1%:

For Villas rose by 19.8%

For Apartments increased by 11%

– Areas with the highest annual capital gains:

Villas:

Jumeirah Islands – 26.3%

Dubai Hills Estate – 24.4%

Palm Jumeirah – 24.2%

Apartments:

Palm Jumeirah – 20%

The Greens – 17.8%

Discovery Gardens – 17.1%

Rental prices continued to rise in September 2023

– According to the global commercial real estate services, CBRE

Average annual rents increaed by 20.6% from September 2022:

Apartments rose by 20.7%

Villas increased by 20.1%

In September 2023, the average annual rental prices are:

Apartments – $29,600

Villas – $87,900

– Leading areas in terms of the highest rental prices:

Apartments – Palm Jumeirah ($70,100)

Villas – Al Barari ($299,200)