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- Dubai residential capital values rose in September 2023
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)
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