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Monday, January 24, 2022

In 2021, Dubai property prices increased by approximately 17%

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Normal property costs in Dubai expanded by almost 17% during 2021, a yearly growth rate unheard of beginning around 2014.

The ValuStrat Price Index saw month to month capital growth for villas in Dubai of 2.5 %, with apartments enrolling growth of just under 1%.

Notwithstanding, the valuation-based index, which covers Dubai’s residential market, was simply 1.3 % over a similar period in 2019 after the market drooped in 2020 because of the effect of the worldwide Covid pandemic.

On Wednesday, another report gave by the Dubai Land Department (DLD) uncovered that Dubai’s real estate market recorded 84,772 transactions worth AED300 billion ($81 billion) in 2021.

Upheld by the government’s economic stimulus packages and the emirate’s facilitating of Expo 2020 Dubai, the area kept on drawing financial backers from around the world, it said.

ValuStrat said that most apartments in Dubai saw single digit yearly gains somewhere in the range of 0.9 and 8.8 %, while a few regions were as yet in regrettable region like Jumeirah Village (- 4.7 %) and Dubai Sports City (- 1%).

Be that as it may, Palm Jumeirah and Jumeirah Beach Residence saw apartment costs rise 19.4 %and 15.6 % individually.

For villas, top yearly entertainers stayed in gated networks like Arabian Ranches (36.5 %), Jumeirah Islands (36.3 %), The Lakes (33.6 %) and Emirates Hills (32.9 %).

ValuStrat said villa costs in Dubai outperformed pre-pandemic levels, with Palm Jumeirah simply 1.5 % away from its 2014 pinnacles.

As per ValuStrat’s report, December deals transaction volumes were down 20.1 % when contrasted with the earlier month yet were as yet 51.7 % higher than a similar period last year.

Month-on-month execution saw money and home loan deals of prepared properties decay 20.6 % and off-plan Oqood (contract) enlistments fall by 19.5 %, addressing 50.4 % of generally speaking transactions.

December saw 17 transactions esteemed over AED30 million while one such transaction of a villa situated in Jumeirah Bay Island sold for AED92 million.

Besting the business graphs in December were properties created by Emaar (24.9 %), Damac (10%), Nakheel (5.4 %), Sobha (4.8 %), Dubai Properties (4.6 %) and Danube (3%).

Top off-plan areas executed in remembered projects for Sobha Hartland (9.4 %), Downtown Dubai (9.3 %), Business Bay (9.1 %) and Dubai Harbor (9%).

Most executed prepared homes were in Business Bay (9.4 %), Jumeirah Village (7.7 %), Dubai Marina (7.6 %), Palm Jumeirah (4.3 %) and Dubai Hills Estate (4.1 %).

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