UAE - Mubasher: Dubai's real estate market witnessed quarterly improvements in the residential ValuStrat Price Index (VPI), which tracks the change in capital values for a representative fixed basket of properties, during the first quarter (Q1) of 2021 for the first time since 2014.
Dubai's residential VPI recorded an average quarterly improvement of 0.8% amid accelerated positive trends in Q1-21 for the first time since 2014, according to a recent press release.
The Dubai VPI for residential rental values settled at 61.9 points, showing quarterly stablility for the first time in two years.
ValuStrat, a local consulting firm, also referred in its Q1-21 Dubai real estate review that the emirate recorded the highest number of home and office units’ sales transactions.
Dubai’s residential net yields averaged 6.1%, with apartments at 6.4% and villas at 4.9%.
In the meantime, the emirate's residential occupancy was estimated at 80%.
The Managing Director and Group Head Real Estate ValuStrat, Declan King MRICS, commented: "Improved buyer confidence appears evident in many parts of the Dubai residential market, with statistics showing increased numbers of sales transactions and price rises."