Dubai villa prices in prime areas recorded significant increases in June as transactions in the wider market stayed close to historical highs.
Average residential property prices increased 10 per cent in the year to June, with apartment prices nearly 9 per cent higher on average and villa prices increasing 19 per cent, CBRE said in its latest Dubai market report.
Month on month, apartment prices across Dubai edged up 0.1 per cent, while villa prices gained more than 1 per cent.
“Transaction activity in Dubai’s residential market continues to remain near historical highs, with total transactions in the year to date to June 2022 reaching 38,901," said Taimur Khan, head of research for the Mena region at CBRE. "This is the highest total recorded since 2009, over this period."
Mortgage transactions were steady despite recent interest rate increases in the UAE.
"Dubai's real estate market shows no signs of slowing down despite the challenges posed by global tensions and inflation," said Elias Hannoush, managing director of Morgan's International Realty.
Read More : https://www.thenationalnews.com/business/property/2022/07/15/dubai-property-prices-where-they-are-rising-and-falling-june-2022/
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