Dubai’s housing market continues its upward trajectory, as per the latest data from ValuStrat indicating robust growth across various sectors.
The Dubai Residential Capital Values Price Index (VPI) surged by 23.1% annually, hitting 164.1 points in February 2024. This rise reflects sustained demand and investor optimism in the market.
Notably, villas in prime locations like Jumeirah Islands and Palm Jumeirah saw capital gains spike by 28% compared to the previous year. In some areas, growth rates exceeded expectations.
Similarly, apartments witnessed remarkable growth, with prices soaring by 18.6% annually. Neighborhoods such as Discovery Gardens and The Greens saw capital growth rates surpassing 27% year-over-year.
Transactional activity remained brisk, with 20 property deals exceeding AED 30 million recorded in February alone. Notable developers like Emaar and Damac were active participants in these transactions.
Furthermore, the off-plan segment exhibited resilience, with Oqood registrations jumping by 32.6% annually, indicating sustained investor confidence in Dubai’s long-term growth prospects.