UAE: Villas continue to drive Dubai real estate in 2022

UAE: Villas continue to drive Dubai real estate in 2022

Analysts and market experts said outlook for both segments remains positive but the villa prices move faster and are expected to cross January 2014 peak levels this year

A magnificent view of the fronds of Palm Jumeirah housing the villas with the Burj Al Arab in the background. Villas in Palm Jumeirah remained the most preferred choice as its prices rose 5.3 per cent and crossed their peak levels of 2014 in March. — File photo

Published: Sun 17 Apr 2022, 4:56 PM Last updated: Sun 17 Apr 2022, 5:02 PM

Villa segment will continue to drive Dubai real estate market and is expected to post modest growth in rest of the three quarters of 2022 while apartments the apartment category is expected to perform better than last year, experts say.

Analysts and market experts said outlook for both segments remains positive but the villa prices move faster and are expected to cross January 2014 peak levels this year.

Referring to the ValuStrat Price Index, which measures Dubai’s residential capital value performance, they said property prices surged 18.8 per cent year-on-year basis and 1.2 per cent month-on-month basis in March.

“Villas spearheaded this trend as prices jumped 34.1 per cent annually, but saw a stable monthly