Dubai realty valuation continues upward move
<p>Dubai’s apartment prices continued to move up in August due to persistent demand, resulting in higher valuations, a report showed on Tuesday.</p>
<p>The ValuStrat Price Index (VPI) for August 2023 grew 1.9 per cent monthly and 13.8 per cent annually to reach 94.6 points. Apartments were at 78.5 points, and villas at 120.4 points, this is compared to 100 points set in January 2014.</p>
<p>Increased sales of apartments within affordable and mid-market communities were observed, according to ValuStrat.</p>
<p>The VPI is a valuation-based price index constructed to represent periodic change in capital values and rental values experienced by typical residential and commercial properties.</p>
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