Built to inform

Sign up for the daily newsletters

No, Thank you

ValuStrat: Capital value of Dubai residential properties drops 11.5%

Price decline has resulted in 29.3% citywide capital value loss since the middle of 2014

Capital values fell by 15% annually for apartments in Palm Jumeirah, Discovery Gardens and The Greens, according to data from ValuStrat.
Capital values fell by 15% annually for apartments in Palm Jumeirah, Discovery Gardens and The Greens, according to data from ValuStrat.

Annual capital values have dropped by 11.5% for Dubai-based residential properties since the middle of 2014, according to consulting firm ValuStrat’s second quarterly price index report.

Data showed that quarterly declines slowed to 2.9%, with a “downward” trend that has led to a 29.3% citywide capital value loss since 2014.

It added that all established freehold locations monitored by the report witnessed price drops since the last quarter, ranging from 1.2% to 4.2%.

On an annual basis, three out of 26 locations, including villas in Palm Jumeirah and Al Furjan, as well as apartments in Dubai Sports City, saw single-digit declines, while capital values dropped more than 15% annually for apartments in Palm Jumeirah, Discovery Gardens, and The Greens.

ValuStrat’s head of real estate research, Haider Tuaima, said: “As capital values continue to soften, there was a relatively strong quarterly sales volume performance for 9 months in a row, off-plan up 5.5%, ready sales stable, when compared to Q1.”

He added: “This quarter also saw a record 10% of all ready villa sales transactions, priced higher than $2.7m (AED 10 million). [This was a] good market performance given that the holy month of Ramadan and Eid holidays fell on May and June.”

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week Middle East 11th Jan 2020
Jan 16, 2020