On an annual basis, Dubai villa prices have increased by 31.9%, according to research released on Monday.

The Greens surpassed ten-year price peaks with Palm Jumeirah, according to ValuStrat’s November Dubai study.

The ValuStrat Price Index softened for the third time since August in November 2024, rising 1.8% month over month to 197.3 points, a minor decrease from October’s 1.9% expansion. The VPI grew by 279 percent annually. Both villa and apartment values were benchmarked to a base of 100 points in January 2021, with villa values reaching 253.7 points and apartments recording 160.5 points.

A valuation-based price index, the ValuStrat Price Index, or VPI, was created to reflect the regular fluctuations in capital and rental values that ordinary residential and commercial properties encounter.

Apartments vs villas

Monthly capital gains for villas were 2.1%, up 31.9% from the previous year. Villas in coveted neighborhoods including Palm Jumeirah (42.5%), Jumeirah Islands (42.4%), which has more than tripled in value since the beginning of 2021, Emirates Hills (32.7%), and Dubai Hills Estate (32.2%) are noteworthy top achievers each year. Mudon (15.1%) and Jumeirah Village Triangle (20.4%) saw the lowest growth, with Mudon staying largely unchanged for the third consecutive month. The price of apartments increased by 1.6% every month, or 23.9% annually.

The Greens (31.6%), Palm Jumeirah (29%), Discovery Gardens (28.5%), and The Views (27.5%) were among the neighborhoods with the largest increases in apartment capital over the previous year. Dubai Sports City (17.2%) and International City (16.6%) had the lowest capital value increases.

Off-plan vs ready homes

Although Oqood (contract) registrations for off-plan homes decreased 41.9 percent per month, they nevertheless accounted for 64% of all home sales this month and were 76.5 percent higher than in November of last year. Additionally, the number of ready secondary-home purchases decreased by 8.9% each month but increased by 3.2% per year.

Prime home sales

There were 24 deals for ready-to-move-in residences in Palm Jumeirah, Dubai Hills Estate, Jumeirah Bay Island, Al Barari, and District One that cost more than Dh30 million. Leading Developers and Sites Overall developer sales statistics in November 2024 were led by Emaar (14.7 percent), Damac (7.6 percent), Sobha (6.5 percent), Binghatti (5.9 percent), and Tiger Properties (4.6%).

Projects in Jumeirah Village Circle (13.1%), Jumeirah Village Triangle (8.5%), Business Bay (5.4%), and Dubailand Residence Complex (5.1%) were the most off-plan areas that were transacted.

Jumeirah Village Circle (10.2 percent), Dubai Marina (5.9 percent), Business Bay (5.1 percent), Downtown Dubai (4.7 percent), and Uptown Motor City (4.1 percent) had the highest percentage of ready-to-sell properties. With the most ready homes traded in a single month, Dubailand Residence Complex set a new personal milestone last month.