Apartment prices in Dubai are up nearly 20% – here's what's happening
According to ValuStrat's June market report, apartment prices in Dubai rose by 1.1% last month – and are now nearly 20% higher than they were this time last year. The Greens saw the biggest annual jump at 24.4%, followed by Dubai Silicon Oasis, Dubailand Residence Complex, and (of course) Palm Jumeirah. Even International City and Business Bay saw solid gains. Not massive, but still moving up. Villas? Even pricier
Villa prices saw an even steeper rise – up 28.7% year-on-year. Jumeirah Islands led the charge with a whopping 41.1% jump, followed closely by Palm Jumeirah, Emirates Hills, and The Meadows. On average, Dubai's villas are now worth 180% more than they were post-2020. Off-plan is where the action is
Off-plan sales made up a massive 73.4% of all residential transactions in June, even though monthly registrations dipped slightly. JVC, Dubai Investment Park Second, and Uptown Motorcity were some of the busiest areas for off-plan activity. Luxury deals? Still rolling in
Yes, people are still buying homes for over Dhs30 million – 40 of them in June alone, with 15 topping the Dhs50 million mark. Prime areas include DIFC, Palm Jumeirah, and Dubai Hills Estate. Ready homes? Still moving
Secondary sales have slowed slightly, down 14.3 per cent since May, but they're still 11 per cent higher year-on-year. JVC, Business Bay, and Dubai Marina continue to be popular spots for ready-to-move-in buyers.
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