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Asteco: Annual price growth for villas in Dubai is 37%

Asteco: Annual price growth for villas in Dubai is 37%

The market is experiencing a slowdown in the commissioning of new real estate on the market. In the third quarter of 2021, only 100 villas were put into operation.

According to the results of the third quarter of 2021, prices for villas in Dubai increased by 37% when compared year-on-year and by 9% when compared with the second quarter of this year.

Apartment prices increased by 14% over the year and 6% by the second quarter.

In the third quarter, according to the report, UAE Real Estate Report Q3 2021, the total number of commissioned properties decreased significantly — only 100 villas and 3,600 apartments.

So far, however, another 9,300 properties are expected to be introduced. The developer who should provide this number is Riviera from Azizi Developments.

Villa prices in Dubai peaked in the second quarter of 2014, with current figures only at 24% of the seven-year maximum.

Apartment rentals decreased by 2%, but in some areas, villa rentals are growing fast. The average annual rental growth was 3%. The highest rate for the UAE is in Golf Gardens — 8%.

Expo 2020 continues to keep foreign investors in a good mood. The number of FDI is also growing.

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