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June 7, 2016 | 11:45 | Dubai
The May 2016 ValuStrat Price Index (VPI) demonstrated a clear trend of a plateau in Dubai’s residential prices. Minor price uplifts and notable increased DLD (Dubai Land Department) transaction volumes in several locations during May, added to possible signs of a bottoming-out in monthly values across most of the 26 areas it monitors for apartments and villas.
Compared to a 100 point base in Jan ’14, the May 2016 overall residential VPI registered 98.0 index points, with no significant change in values when compared to the previous eight months and down 1% when compared to the same period last year. This marks a continuation of evidence of price stabilisation.
During May, the villa market registered 96.7 points, down just 0.2% since January and the apartment market registered 98.8 points, up 0.3%since January.
ValuStrat’s overall VPI reveals:
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