Dubai residential capital values rose

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

Dubai villa market has exceeded market peaks of 2014 over 50%

Compared to October 2023, VPI increased by 2.2%:

– For Villas rose by 2.5%

– For Apartments rose by 1.9%

Compared to November 2022, VPI increased by 18.4%:

– For Villas rose by 23.3%

– For Apartments rose by 14.1%

Areas with the highest annual capital gains:

Villas:

Jumeirah Islands – 30.4%

Palm Jumeirah – 29.4%

Dubai Hills Estate – 29.2%

Apartments:

Discovery Gardens – 24.3%

Palm Jumeirah – 23.9%

The Greens – 22.2%

Rental prices continued to rise in November 2023

– According to the commercial real estate services company, CBRE.

Average annual rents increased by 19.2% from November 2022:

Apartments rose by 19.6%

Villas rose by 16.6%

In November 2023, the average annual rental prices are:

Apartments – $30,000

Villas – $88,000

Leading areas in terms of the highest rental prices:

Apartments – Palm Jumeirah ($70,000)

Villas – Al Barari ($313,000)