Dubai's residential market witnessed a mixed performance in August, said a report by ValuStrat, a leading consulting firm headquartered in Dubai providing advisory, valuation, research, due diligence and divestment services.

The August’16 ValuStrat Price Index (VPI) demonstrated mixed price performance for the majority of locations monitored by the index.

Monthly uplifts of 0.8 to 2.8 per cent were recorded for mid-range, high yielding, properties. Centrally located prime apartments witnessed a third consecutive month of uplift.

Some areas saw negative monthly price drops that averaged -1.7 per cent for both villas and apartments, said the report.

Compared to a 100 point base in January 2014, the August 2016 overall residential VPI registered 97.6 index points, with no significant change in values when compared to the previous 14 months and down 0.6 per cent when compared to the same period last year.

During August, the villa market registered 96.7 points, down just 0.2 per cent since January and the apartment market registered 98.2 points, also down 0.4 per cent since January, said the index.

The VPI for Dubai’s residential sector is constructed to represent the monthly price change experienced by typical freehold residential units within Dubai.-TradeArabia News Service