Property consultancy ValuStrat stated in a recent report that despite ready home transactions suffering in June 2024, capital values for ready homes in Dubai kept rising.

Every developed community of freehold villas outperformed its 2014 capital value peaks, with the average freehold villa valuation surpassing 10 million UAE dirhams ($2.72 million).

In June, apartment prices increased 1.9% month over month and 23.4% year over year (YoY). The Greens (33.7%), Palm Jumeirah (31.1%), Discovery Gardens (34.5%), and The Views (29.7%) had the highest annual apartment capital gains.

June saw a 2.4% month-over-month (MoM) increase in villa capital gains and a 33.4% YoY gain.

According to ValuStrat, the villas on Palm Jumeirah saw the biggest gains, at 43.1%. Jumeirah Islands, Dubai Hills Estate, Emirates Hills, and Dubai Hills Estate came in second, third, and sixth, respectively.

Off-plan (Oqood) residential property registrations, on the other hand, rose 33% YoY last month but decreased 31.9% month over month.

According to the report, the number of ready home transactions experienced annual declines that have not been seen since the pandemic’s start, falling 2.6% YoY and 19.4% from May.