Villas continue to drive Dubai’s real estate in 2022

Villas continue to drive Dubai’s real estate in 2022

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 growth rate of 2.1 per cent last month. Apartments witnessed single-digit growth of 8.4 per cent annually with marginal monthly growth of 0.4 per cent in March,” according to the ValuStrat report.

In villa segment, Jumeirah Islands (40.3 per cent), Arabian Ranches (40.3 per cent), The Lakes (37.1 per cent) and Jumeirah Village (35.5 per cent) were the top performer. Some areas such as Mudon and Green Community West performed better and recorded above average price growth of 0.5 per cent and 0.8 per cent, respectively.

“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,” according to the report.

The ValuStrat further said apartments in Palm Jumeirah (21.9 per cent), Jumeirah Beach Residence (16 per cent), Burj Khalifa Tower (15.3 per cent), The Views (10.9 per cent), and The Greens (9.7 per cent) performed better than other areas and recorded above