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Dubai Residential Capital Values

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Dubai Residential Capital Values 2020 Dubai Residential Capital Values February The VPI – Residential Capital Values for Dubai as of February 2020 stood at 74 points, dipping 0.8% since January, -10.1% annually. The second month of 2020 continued the trend of capital values declining less than 1%, a trend which began in June last year. The weighted average capital value was AED 941 per square foot. All properties monitored by the index saw monthly capital values marginally decline, the highest of which was Discovery Gardens with -1.5%, and the lowest registered capital value decline was -0.6% in Jumeirah Lake Towers. The transacted sale price per square foot fell below AED 1,000 currently at AED 932 per sq ft, not too dissimilar to average rates eight years ago, a time when the market initiated a recovery cycle. February 2020 saw off-plan sales transaction volume double when compared to January. Ready homes sales volume grew 7% month on month, representing 32% of all residential cash sales. Properties developed by Emaar, Damac Properties, Dubai Properties, Danube Properties, Nakheel, and Meraas, topped the sales charts overall. Top off-plan locations transacted during February were in Downtown Dubai, Dubai Creek Harbour, Jumeirah Village, Business Bay, and Liwan. Most transacted ready homes were in Jumeirah Village, Dubai Marina, Jumeirah Beach Residence, Palm Jumeirah, International City, Downtown Dubai, and Jumeirah Lake Towers. 74.0 ValuStrat Price Index - Dubai Residential Capital Values Base: Jan 2014=100 -0.8% Monthly Change -10.1% Annual Change AED1,733,878 Weighted Average Capital Value AED941 Weighted Average Value per SQFT 1 | Residential Capital Values - February 2020 2006 YTD Prices (AED/SQFT) Sales Residential 2014 YTD Capital Values VPI Residential 100 120 20 40 60 80 0 1000 1500 2000 500 Jan 0 Feb Mar Apr 112.9 2014 May Jun Jul Aug Sep 2006 Oct Nov Dec Jan 2007 Feb Mar Apr 1,950 2015 May Jun 2008 Jul Source: 2006-2009MarketListing,2010-YTDDLD(ReadyCashSales) Aug Sep Oct Nov 2009 Dec Jan Feb 898 Mar 2010 Source: ValuStrat,Base:Jan 2014=100 Apr 2016 May Jun Jul 2011 Aug Sep Oct Nov 2012 Dec Jan Feb Mar 2013 Apr 2017 May Jun 1,380 Jul Aug 2014 Sep Oct Nov Dec Jan 2015 Feb Mar Apr 2018 May 2016 Jun Jul Aug Sep Oct 2017 www.valustrat.com/vpi | 2 Nov Dec Jan Feb Mar 2018 Apr 2019 May Jun Jul 2019 Aug Sep Oct 932 2020 Nov Dec 2020 Jan 74.0 Feb Typical Villas Location VPI Capital Value (AED) Monthly Change Annual Change Al Furjan 68.3 3,443,555 -0.9% -10.7% Arabian Ranches 66.3 2,958,720 -0.8% -11.1% Emirates Hills 92.2 32,300,000 -0.9% -8.7% Jumeirah Islands 65.4 5,252,296 -0.9% -10.5% Jumeirah Park 71.0 4,138,970 -0.8% -9.9% Jumeirah Village Villas 70.4 1,751,542 -1.4% -13.3% Meadows 67.7 3,945,785 -0.8% -9.0% Palm Jumeirah Villas 100.8 11,900,000 -0.8% -7.6% The Lakes 74.3 3,107,880 -0.9% -10.3% Victory Heights 72.0 5,156,090 -1.0% -11.2% 3 | Residential Capital Values - February 2020 Typical Apartments Location VPI Capital Value (AED) Monthly Change Annual Change Burj Khalifa 74.9 2,325,960 -1.0% -11.1% Business Bay 82.2 976,030 -0.7% -11.1% Discovery Gardens 74.2 355,740 -1.5% -14.0% Downtown Dubai 73.4 1,370,830 -0.9% -9.2% Dubai Marina 70.3 1,738,880 -0.8% -10.2% Dubai Production City 79.0 328,841 -0.9% -13.9% Dubai Sports City 80.2 857,890 -0.8% -9.0% International City 68.5 327,470 -0.7% -9.3% Jumeirah Beach Residence 73.5 2,260,582 -1.0% -10.4% Jumeirah Lake Towers 65.1 1,479,200 -0.6% -10.4% Jumeirah Village 74.4 675,792 -1.0% -10.9% Motor City 88.8 1,219,240 -0.7% -10.4% Palm Jumeirah 81.5 1,947,282 -0.9% -11.6% Remraam 81.7 448,210 -0.9% -11.3% The Greens 71.3 746,928 -0.8% -10.8% The Views 77.1 1,447,550 -1.0% -10.9% www.valustrat.com | 4 ValuStrat Price Index Premium Dubai Residential Subscription In-Depth Reports SUBSCRIBE for regular market intelligence ValuStrat offers premium subscription reports for clients allowing them to access to in-depth, statistical analysis of what is happening in residential real estate; allowing for more informed decision making and forward planning. The full in-depth 100+ page Dubai report includes citywide analysis of freehold districts, including the ValuStrat Price Index, transaction volumes, service charges, Price to Rent Ratios and Net Yields. 5 | Residential Capital Values - February 2020 About ValuStrat is a leading consulting firm headquartered in Dubai providing Advisory, Valuations, Research, Industrial Consulting and Due Diligence services across a diverse range of industry sectors since 1977. Offices in Strategic the UAE, UK, Saudi Arabia, Pakistan and Qatar serve over 1,000 corporate Partners of clients in the Middle East. Client base includes financial institutions, local corporates, multinationals, governments, SMEs, family businesses and startups. Some of the key sectors serviced by ValuStrat’s consulting team include real estate, hospitality, healthcare, education, manufacturing, retail, Financial Institutions entertainment, transport and FMCG. ValuStrat is a Royal Institution of Chartered Surveyors (RICS) Regulated Firm and the first company head quartered in all of MENA and Asia to be accepted into the prestigious RICS Tech Affiliate program. VPI Also accessible via ValuStrat Price Index VPI Online www.valustrat.com/vpi The ValuStrat Price Index for Dubai’s office capital values is a valuation-based index constructed to represent the quarterly price change experienced by typical office space within Dubai. The ValuStrat Price Index for Dubai’s residential capital values is a valuation-based index constructed to represent the monthly price change experienced by typical residential units within Dubai. The ValuStrat Price Index for Dubai’s residential rental values is constructed to represent the quarterly rental change experienced by typical residential units within Dubai. The VPI applies weighted averages using data samples representing more than 90% of all property types across the city’s freehold locations and is built by our expert RICS Registered Valuers. Copyright © ValuStrat Consulting FZCo. 2020 This document is the property of ValuStrat Consulting FZCo Director - Commercial Valuations and must not be reproduced or transmitted in any form or by any means, without the prior written consent of ValuStrat Consulting FZCo. We welcome your constructive feedback and any corrections that may need to be made to this document. ValuStrat Consulting FZCo does not accept any liability in negligence or otherwise for any damage suffered by any party resulting from reliance on this documen Director & Head of Industrial Consulting.
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