Prices increase for villas outpaced other properties in Dubai in the second quarter of 2021.
Quarterly apartment price index in 2021 increased by 1.7%, but decreased by 4.8% compared to last year. In contrast, villas have headed the growth in residential property prices in Dubai, compared to 7% QoQ and 6.3% YoY.
In its latest report, ValuStrat said the residential property price index increased by 3.8% in the second quarter of 2021 from the previous quarter, with most neighborhoods recovering from last year's losses.
All villas areas and communities are seeing quality improvements that have not been seen since 2014. The largest annual capital gains were recorded at Arab ranches at 10.3%, Jumeirah – at 9.1%, Dubai Hills – at 9.0%, the lakes – at 8.2% and The Meadows – at 7.7%.
The skyrocketing property price reflects development pace in Dubai real estate sector, confirming its vitality, flexibility and attractiveness. In June 2021, the sector recorded 6388 purchases and sales transactions worth AED 14.79, the highest in 8 years, especially since December 2013, according to Dubai Land Department.