UAE: Residential Capital Values in Dubai Plummet 13.2 Percent in July

UAE: Residential Capital Values in Dubai Plummet 13.2 Percent in July

The monthly decline was however 1.7 per cent, which is a 0.2% improvement when compared to the April - June period, it stated.

Movement restrictions due to the COVID-19 pandemic were mostly lifted, allowing increased number of home sales in the city, showing transactional improvement over the previous month, however these figures were yet to indicate a full recovery when compared to pre- lockdown performance.

 

All properties monitored by the VPI saw monthly capital values decline by as much as 2.1%, examples of which were apartments in The Greens, Remraam, and Dubai Production City.

 

Lowest registered capital value declines for villas were found in Palm Jumeirah, The Lakes and Arabian Ranches.

 

July's sales transaction volume performance was a mixed bag. The trend of improving ready homes

sales activity continued, as July's ready home sales volume