Dubai residential capital values rose in May 2023

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

Compared to April 2023, VPI grew up by 1.2%:

• For Villas – by 1.4%
• For Apartments – by 1%

Compared to May 2022, VPI increased by 11.3%:

• For Villas – by 15.8%
• For Apartments – by 7.5%

– Areas with the highest annual capital gains: Villas

• Jumeirah Islands – 20.7%
• Emirates Hills – 19.7%
• Palm Jumeirah – 17.3%

Apartments

• Palm Jumeirah – 16.3%
• The Greens – 10.4%
• JBR – 9.4%

Average rent in May rose by 24.2% from May 2022

• Apartments – by 24.1%
• Villas – by 24.8%

According to global commercial real estate services, CBRE, In May 2023, the average rental prices:

• Apartments – $28,200
• Villas – $84,800

– Leading areas in terms of average rental prices:

• Apartments – Palm Jumeirah ($71,300)
• Villas – Al Barari ($274,100)