Villa prices in upmarket areas of Dubai rose significantly in June 2022 as deals in the wider market remained close to historic highs. Average residential property prices increased by 10% in the year to June 2022, with apartment prices on average rising by almost 9% and villa prices up by 19%, according to CBRE's latest Dubai market report.
On a monthly basis, the prices of apartments in Dubai increased by 0.1%, while the prices of villas increased by more than 1%.
Areas such as Palm Jumeirah, Emirates Hills, District One and Dubai Hills showed growth of more than 4% on a monthly basis. June 2022 was the third month in a row when Palm Jumeirah prices increased by about 5% compared to May 2022.
In Palm Jumeirah, the highest price per square meter for villas is 3,365 dirhams.
According to CBRE, in the Dubai Silicon Oasis apartment segment, 3.6% growth was recorded in June 2022, while in Jebel Ali, the growth was about 4%. June 2022 was the highest month of sales in Dubai, amounting to about 23 billion dirhams ($6.2 billion), which is about 55% more year-on-year compared to June 2021, according to the Dubai Land Department. As of July 1, 71% of the total sales volume of 2021 was achieved.