Dubai housing market records the highest quarterly price increase in 10 years

What has happened? The latest report by real estate consultancy ValuStrat has indicated that Dubai's residential property market recorded its highest quarterly price increase in a decade as demand for property in the emirate surges.

Details. The ValuStrat Price Index (VPI), which covers Dubai's residential property market, has risen by 6.1% quarter-on-quarter in the third quarter, with villa and apartment prices rising  by 7.6% and 4.8% respectively over the period.

On an annual basis, the index has increased by 15.1%, with prices for villas and apartments rising by 19.8% and 11% respectively.

Districts. In the villa segment, The Palm Jumeirah, Jumeirah Islands, Dubai Hills Estate and Mudon have recorded the highest capital gains for the quarter, while in the apartment category, Discovery Gardens, The Greens, The Palm and Dubailand Residence Complex were the best performers.

Source: The National

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