Prices for villas and apartments in Dubai increased significantly in the first quarter

Villas, which make up 13% of residential buildings in Dubai, rose by 17.1% per annum, while apartment prices rose by 6.6%. The most successful areas of the Emirate were again: Jumeirah Islands with an increase of 5%, The Palm Jumeirah (4.6%), Dubai Hills Estate (4.5%) and Jumeirah Park (3.8%). The total volume of transactions in monetary terms in the first quarter amounted to 157 billion dirhams, showing an 80% year-on-year increase. Sales records in areas such as Dubai Silicon Oasis, Jumeirah Village and Dubailand Residence Complex indicate a possible shift in demand towards the middle and affordable segments of the Dubai real estate market, where houses costing less than Dh1 million appear.

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