Annual prices in Dubai’s villa communities increase by 17.1% year-on-year (YoY) and 1.1% quarter-on-quarter (QoQ) in March 2023, Invest-Gate reports, citing a report by real estate consultancy ValuStrat.

Emirates Hills and Jumeirah Islands are the top villa communities in terms of price levels, with each registering annual increases of 21.1%, followed by Arabian Ranches (19.4%) and Jumeirah Park (17.9%).

On the other hand, apartment prices rise by 6.6% annually and just 0.1% QoQ.

Apartment prices in Palm Jumeirah and Jumeirah Beach Residence register double-digit growth at 15.6% and 11.2% YoY in March.

Meanwhile, some communities saw little or no change in annual apartment prices, including Jumeirah Village, Remraam, Dubai Sports City, Dubai Production City, and Dubai Silicon Oasis.

ValuStrat’s report highlights a surge in residential sales in March, with a YoY growth of 46.9% and a QoQ growth of 37.6%.

Off-plan contract registrations jump by 44% QoQ and 101.3% YoY, representing 58.9% of overall home sales in March. Ready property sales are up 29.5% QoQ and 5.9% YoY, respectively.

The property market in Dubai remains strong, and experts predict continued growth in the coming months and is likely to remain a hotspot for investors and homebuyers alike, given the high demand for both villas and apartments, the real estate sector, ValuStrat says.