Palm Jumeriah properties maintain worth as Dubai slides | Information

Residential properties throughout Dubai have seen an general 11.2 per cent annual fall in capital values, with quarterly declines decelerating to 2.6 per cent.

That’s in line with the newest figures from ValuStrat.

The downward development has resulted in 31 per cent citywide capital worth loss because the peaks of mid-2014.

All established freehold areas monitored by the VPI witnessed worth drops because the final quarter, starting from 1.eight per cent to 4.5 per cent, in line with the ValuStrat Value Index.

On an annual foundation, three out of 26 areas have been extra resilient to downward strain and noticed single-digit declines, villas in Palm Jumeirah and Emirates Hills, in addition to residences in Dubai Sports activities Metropolis, acknowledged VPI.

Capital values dropped greater than 15 per cent yearly for residences in Discovery Gardens and Dubai Manufacturing Metropolis.

“Residential capital values per sq. ft approached 2012 ranges prompting a 40 per cent annual rise in off-plan gross sales and a 34 per cent progress in prepared residence gross sales.

“Moreover, greater than half of residential gross sales have been for residences priced lower than Dh1 million and villas priced lower than Dh2 million,” mentioned Haider Tuaima, head of actual property analysis at ValuStrat.

The Dubai VPI analyses residential rental values.

The rental VPI is a 100 index with a base set for quarter certainly one of 2014, it screens 16 house and ten villa areas inside Dubai’s freehold market and compares related items inside these areas on a quarterly foundation.

The quarter three 2019 residential rental VPI in Dubai stood at 72.6 factors, declining 27.Four per cent since 2014, softening 1.7 per cent quarterly and seven.9 per cent yearly.

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