According to ValuStrat, the Dubai Real Estate Capital Growth Index (VPI) increased by 16 points. The final results of the year are being calculated, as different quarters have demonstrated different indicators. They became the highest in the elite real estate sector in the 4th quarter of last year. The capital value of premium houses has risen sharply, thanks to the country’s economic development.
21 districts of Dubai and 13 gated communities with elite cottages are calculated for the index. As of December, the price index increased by 16.6%. For the last quarter, the growth rate was 5.3%. Almost 13% of total sales were in luxury villas. Such closed communities of premium houses, as Arabian Ranches (34.1%), Jumeirah Islands (33.9%), and Lakes (31.2%), showed the highest capitalization growth.
Apartments have risen in price in Palm Jumeirah (17.3%), Jumeirah Beach Residents (14.6%), and Burj Khalifa (8.7%). Analysts predict that prices will continue to rise this year. This figure will be about 4%, but it is too early to talk about the numbers. The introduction of new projects in the luxury real estate sector will contribute to this.
