DUBAI: Villas led the surge in residential property prices in September, growing over 20 percent in the last year, with older gated communities recording the highest gains.
Apartment prices also increased, particularly in top beachfront communities in the iconic Palm Jumeirah, and Jumeirah Beach Residence, according to the latest ValuStrat Price Index report..
However, the volume of sales transactions was down 8.3 percent, compared to August. Sales of “ready” apartments fell by 10 percent, while off-plan registrations declined 6.4 percent, the report showed.
Luxury property developer Emaar topped the sales chart, followed by DAMAC and Dubai Properties.
The emirate has successfully opened up again following the Covid-19 restrictions with international travel a likely boost to property prices. A desire for flexible working practices and working from home have also driven demand for larger homes.
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