Dubai: Dubai’s high-end villas are starting to record some upward mobility after an extended spell of decline starting from mid-2014 onwards. Slight gains ranging between 1.6-1.9 per cent were recorded at Arabian Ranches, Jumeirah Village and those on Palm Jumeirah, according to monthly update from ValuStrat.
Certain apartment clusters were gaining in upward mobility — by between 0.9-3.1 per cent for units in Downtown Dubai, Motor City, The Views as well as Discovery Gardens.
Motor City is the closest to clawing nearer to its 2014 peaks — values there are now only 5.2 per cent lower, ValuStrat report states.
But some of the other areas in the city still saw a monthly price drop averaged 1.2 per cent for both villas and apartments. “Compared to a 100-point base in January 2014, the November 2016 overall residential price index registered 97.5 index points, with no significant change in values when compared to the previous 17 months and down 0.5 per cent when compared to the same period last year,” the report added. “During November, the villa market registered 96.7 points, down just 0.2 per cent since January and the apartment market registered 98.0 points, down 0.6 per cent since January.”
