Dubai - VPI Residential Capital Values - September 2024

The Dubai residential market exhibited positive gains in monthly capital values overall, albeit with a slight softening compared to the previous month. This edition of the ValuStrat Price Index (VPI) highlights robust market liquidity, where ready sales saw double-digit growth and off-plan registrations reached a record triple-digit annual increase.

• Citywide residential capital values (VPI) reached 190.1 points, recording a 2.1% monthly increase and a 28.9% annual rise.
• Villa capital values climbed to 243.2 points, reflecting a 33.1% annual gain, led by prime communities such as Palm Jumeirah at 42.8% and Jumeirah Islands at 42.3%.
• Apartment capital values grew to 155.4 points, maintaining a record annual growth of 24.8%.
• Off-plan (Oqood) registrations surged 254.2% year-on-year, accounting for nearly three-quarters of all home sales during the month.
• Ready secondary-home transactions demonstrated strong ongoing demand, growing 10.9% monthly and 19% annually.

Institutional investors and family offices requiring a valuation-anchored baseline to track the slight softening in monthly growth against strong annual capital gains across Dubai's freehold districts.

Lenders and risk management teams seeking independent, evidence-based metrics on the massive 254.2% annual surge in off-plan registrations to accurately underwrite real estate exposure.

Real estate developers requiring clear visibility into sub-market performance and record-breaking off-plan market absorption to strategically time upcoming project pipelines.

High-net-worth individuals (HNWIs) and active market participants seeking to validate pricing strategies in outperforming prime residential communities.

Policymakers and government entities focused on monitoring sustainable price growth and long-term residential sector resilience.

This comprehensive index equips decision-makers with the empirical clarity required to navigate Dubai's dynamic residential property cycle in September 2024.

• Benchmark individual residential assets and portfolios against authoritative, citywide capital value trajectories for villas and apartments.
• Understand the precise valuation dynamics between exceptional annual growth and the recent moderation in monthly capital gains to optimise asset allocation.
• Track shifting market liquidity through detailed analysis of the record off-plan registrations and the continued double-digit growth in ready home sales.
• Support complex pricing, acquisition, and risk mitigation decisions using an independent, valuation-led index based on actual market data.