Home Prices in Dubai Real Estate Rise by More than 27% Since May 2023, Prices for Apartments in Palm Jumeirah Rise to New Heights
According to the recent data from one of the leading real estate companies ValuStrat, the residential market of Dubai continued to perform well in May, with capital values rising at a fast pace in comparison to the last month. The ValuStrat Price Index (VPI) rose 2.1 percent this month taking the index to the new heights of 174.4 points representing a 27.2 percent increase from May last year.
The most shocking and positive increase could be seen in villas with the largest monthly increase of 2.4 percent, that led to the increment in values rising 32.5 percent yearly to 221.2 points on the index. However, apartments saw a slight slower rate of increase with 1.8 percent for the month.
Home Prices in Dubai continue a significant rise in the month of May
Experts of real estate market believe the figures depicting the rise in Dubai’s properties highlight the ongoing recovery of Emirate’s market from the effects of the pandemic.
As per the sources, various villa communities regained or surpassed their pre-covid peak prices from 2014.
Villa’s areas such as Palm Jumeirah, Jumeirah Islands, and Dubai Islands have seen surprising yearly increment of 35-40 percent.
Source: propertynews.ae
