Page 344 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )
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The VPI is a valuation-based price index constructed to represent periodic

               change in capital values and rental values experienced by typical
               residential and commercial properties. The VPI for Dubai’s residential
               capital values is updated on a monthly basis. The VPI for Dubai’s residential
               rental values is updated on a quarterly basis.




               The apartment submarket in the emirate saw prices accelerate at 1.9 per
               cent monthly and expand a record 18.6 per cent annually. The highest year
               on year capital growth in apartments was recorded in Discovery Gardens
               (30.7 per cent), The Greens (27.9 per cent), Palm Jumeirah (27.4 per cent),
               Town Square (23 per cent), and Dubai Production City (22.9 per cent).




               Villa capital gains during the month were up 2.4 per cent compared to
               January and 28 per cent since last year. The top annual performers were
               villas in highly desired Jumeirah Islands (36.1 per cent), Palm Jumeirah (35.1
               per cent), Dubai Hills Estate (33.6 per cent), and Mudon (29.6 per cent).



               Off-plan Oqood (contract) registrations jumped 32.6 per cent annually and

               5.7 per cent monthly. Ready home transaction volumes grew 30.5 per cent
               annually and 9 per cent monthly, representing a minority 36.9 per cent
               share of overall residential sales for the month.



               February saw 20 transactions of ready properties priced over Dh30 million,
               these were located in Emirates Hills, Palm Jumeirah, District One,

               Jumeirah Bay Island, and Dubai Hills Estate.



               Topping the sales charts overall this month were properties developed by
               Emaar (13.3 per cent), Damac (9.9 per cent), Danube (7.6 per cent), and
               Sobha (5.7 per cent). Top off-plan locations transacted included projects

               located in Jumeirah Village Circle (11.8 per cent), Dubai Maritime City (11.4
               per cent), Business Bay (6.4 per cent), and Bu Kadra (4.5 per cent). The
               majority of ready homes sold were in Jumeirah Village Circle (9 per cent),
               Business Bay (7.2 per cent), Dubai Marina (5.9 per cent), Downtown Dubai
               (5.8 per cent), and Dubai Hills Estate (5.1 per cent).









               https://www.khaleejtimes.com/business/realty/dubai-villa-prices-in-top-areas-double-in-
               three-years
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