The value of residential properties in Dubai has jumped in the second quarter of 2021. The Valustrat Price Index (VPI) grew by 3.8 percent quarter-on-quarter, according to media reports.
Prices of villas in Dubai saw a quarterly rise of 7 percent and an annual gain of 6.3 percent. Apartments VPI also grew 1.7 percent on a quarterly basis. The highest annual capital gains were recorded in Arabian Ranches at 10.3 percent, Jumeirah Islands with 9.1 percent, Dubai Hills Estate at 9 percent, The Lakes with 8.2 percent, Mudon at 7.7 percent and The Meadows with 7.2 percent.
According to the Dubai Land Department. Dubai saw a total of 1,826 real estate and properties transactions worth Dh5.3 billion during the week ending 15th July, 2021. During the period, 128 plots were sold for Dh854.35 million, and 1,218 apartments and villas were sold for Dh2.79 billion in Dubai.
Dubai’s real estate sector recorded around 51,414 sales transaction worth Dh175 billion in 2020 despite the coronavirus pandemic and economic uncertainties, according to a report by the Dubai Land Department (DLD). During the period, Dubai attracted 31,648 new investors and investments worth over Dh73.2 billion.
Sultan Butti bin Mejren, Director General of DLD told the media, “Dubai’s robust investment environment and its ability to adapt to various circumstances, guided by the leadership’s strategic vision to strengthen the capabilities of the emirate’s real estate sector.”