Cumulative sales reached $ 4.07 billion, off-plan real estate is showing record highs of deals, and the capital value of a third of the apartment segment has declined over the past month. Data is provided by ValuStrat and Property Finder.
The capital value of villas in Dubai continues to increase in line with strong demand. ValuStrat reports double-digit numbers. For example, the capital value of villas has increased by 22%in the Arabian Ranches area.
The average increase in capital value for both villas and apartments in August increased by 6.3% compared to July, and by 1.5% compared to August 2020.
Currently, the capital value of residential real estate in Dubai is estimated at an average of $ 435,000 per property or $ 9,354 per square meter.
In addition to Arabian Ranches, the leaders were Jumeirah Islands, Dubai Hills Estate and Lakes. The growth of capital cost there amounted to 20.8, 18.5 and 18.3%, respectively.
Apartments make up 87% of residential real estate in Dubai. A third of this segment showed a decrease in capital value, a third was stable and a third showed an increase of up to 7%.
By districts, apartments felt best in Palm Jumeirah, Jumeirah Beach Residence, Al Furjan and Al Khail Heights - 6.8%, 6.1%, 4.6% and 4.1%, respectively.
In terms of villas and townhousessales, the following districts performed best: Arabian Ranches 3, Dubai Land, Dubai South, Tilal Al Ghaf and Damak Hills 2.
Apartments performed best in Business Bay, Jumeirah Village Circle, Dubai Harbor, MBR City and Downtown Dubai.
55% of all transactions in August were completely in the secondary real estate market, the off-plan real estate took, naturally, 45%. 2,599 properties were sold with a total value of $ 1.3 billion. This is the best performance in the last 11 years according to Property Finder.
Among the top developers, Emaar Properties performed best with 21.5 of all August sales.
