Gradual recovery of the real estate market continued in Q2 2021, consolidating the Q1 trends.
Villa prices in Dubai increased by 27% in the second quarter of 2021. Prices increased most actively in the Jumeirah Park area. They are followed by Springs (24%) and Dubai Hills Estate (19%).
Emirate apartment prices have also shown significant growth quarter-to-quarter. Palm Jumeirah (13%) was the leader, followed by Business Bay (12%) and Jumeirah Lakes Towers (10%).
The demand for housing with large areas remains high. Villas in Arabian Ranches (19%), Dubai Sports City (14%) and Dubai Hills Estate (13%) are in the lead in sales of housing of this size.
By the end of the second quarter, it became possible to talk about the return of large demand for apartments.
Apartment rental prices have risen, and this growth was best seen in Jumeirah Village (Circle and Triangle). These areas showed an increase of 7%. The only area where rental rates fell was International City.
Average growth in rental properties across Dubai was 3% and 8% for apartments and villas, respectively.
