Dubai home sales surge in February as demand persists

Dubai home sales surge in February as demand persists

Villa prices climb 2.1% and apartments up 0.5% last month; Palm Jumeirah remained top choice for apartments and Jumeirah Island remains preferred villa community

A magnificent view of the fronds of Palm Jumeirah housing the villas with the Burj Al Arab in the background. — File photo

Published: Mon 14 Mar 2022, 5:39 PM Last updated: Mon 14 Mar 2022, 5:54 PM

Dubai’s real estate continued its upward trend in February as the investors and end-users explored best buying options for residential properties on long-term lease, says a latest report.

The ValuStrat Price Index (VPI), which reached at 78.1 points – 21.9 per cent lower than the 100-point index base of January 2014, recorded a steady price growth of just over one per cent in February due to demand for residential properties in Dubai. It further noted 2.1 per cent growth in villa values and 0.5 per cent increase in apartment prices last month.

Haider Tuaima, director and head of Real Estate Research at ValuStrat, said Dubai home sales for the first two months of 2022 — both in terms of both total volume and total value, have already surpassed the full first quarter of 2021, reflecting a high demand in the market.

“The VPI for