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ValuStrat Price Index (VPI) Dubai residential capital values June 2021

The VPI Residential Capital Values for Dubai as of June 2021 continued its monthly growth at an accelerated 1.5% to 69 points, aggregating 5.5% since the start of the year

The peak of June 2014 saw the citywide VPI achieve 112.9 points Residential sales volumes in Q2 surpassed 7,500 transactions 42% of home transactions were off-plan versus 58% being ready to move into

The VPI  Residential Capital Values for Dubai as of June 2021 continued its monthly growth at an accelerated 1.5% to 69 points, aggregating 5.5% since the start of the year.

There is still a long way to reach 100 points registered as of January 2014, not to mention the peak of June 2014 which saw the citywide VPI achieve 112.9 points.

Villas, which represent 13% of the residential market in Dubai, spearheaded this growth with a quarterly increase of 7% and an annual expansion of 6.3%. 

June sales transactions leapfrogged May by 68%. Month-on-month performance saw ready home sales grow 75.5% and off-plan Oqood (contract) registrations expand 59.5%. 

Residential sales volumes in Q2 surpassed 7,500 transactions, breaking the previous quarter record, and every other quarter since 2010. Transacted price per square foot has crossed UAE 1,000 dirhams for the first time in three years. The highest annual capital gains were found in Arabian Ranches (10.3%), Jumeirah Islands (9.1%), Dubai Hills Estate (9%), The Lakes (8.2%), Mudon (7.7%), and The Meadows (7.2%). 

The VPI for apartments grew 1.7% quarterly but did not perform as well as villas on an annual basis, still declining 4.8% when compared to last year. 

Jumeirah Beach Residence, Palm Jumeirah, Downtown Dubai, and The Views were the best quarterly performers. This is contrasted with Jumeirah Village, Dubai Marina, The Greens, and Dubai Production City. However, compared to last year, apartments in International City, Palm Jumeirah, Jumeirah Beach Residence, Al Furjan, and Al Quoz Fourth, have recovered their capital losses of last year. 

42% of home transactions were off-plan versus 58% being ready to move into. Properties developed by Emaar, Azizi, Nakheel, Damac, and Seven Tides, topped the sales charts overall. Top off-plan locations transacted during June were in Meydan One, Jumeirah Lake Towers, Sobha Hartland, and Business Bay. Most transacted ready homes were located in International City, Dubai Marina, Business Bay, Green Community West, and Dubai Hills Estate.