ValuStrat, the Middle East’s leading consulting group providing Advisory, Valuations, Research, Due Diligence and Divestment services, released its The ValuStrat Price Index (VPI) results which includes monthly analysis of multiple properties across 16 apartment and 10 villa locations in Dubai.
According to the first quarter 2016 VPI, home prices decreased by 3,5 percent in Q1 2016 compared to the last year in Dubai.Dubai apartment market has shown a slight quarterly improvement in values, up 0.1% while the villa market saw values marginally decline by 0.2%.
The median apartment value in March was AED 14,198 per sq m (AED 1,319 per sq ft) and for villas was AED 14,650 per sq m (AED1,361 per sq ft).Compared to the previous quarter, three locations saw appreciation in values, Motor
City having the highest improvement of 1.5%, while Dubai Production City (formerly known as IMPZ) and The Greens saw an increase of just 0.7%.
The median residential transaction price witnessed a decline of 10.4% YoY.Overall residential asking rents declined by 6.8% YoY.