The real estate sector in Dubai, UAE, had witnessed a clear trend of a plateau in residential prices during May, said a report by ValuStrat, a leading consulting firm based in Dubai.

The company has been providing advisory, valuation, research, due diligence and divestment services across a diverse range of industry sectors since 1977.

Furthermore, minor price uplifts and notable increased DLD transaction volumes in several locations during May, added to possible signs of a bottoming-out in monthly values across most of the 26 areas it monitors for apartments and villas, according to ValuStrat Price Index (VPI) for Dubai’s residential sector for May.

VPI is constructed to represent the monthly price change experienced by typical freehold residential units within Dubai. It provides an up-to-date opinion of current pricing.

The clear trend of a plateau in Dubai’s prices was seen as forecasted in ValuStrat's previous reports since last year, it stated.

Compared to a 100 point base in January 2014, the May 2016 overall residential VPI registered 98 index points, with no significant change in values when compared to the previous eight months and down one per cent when compared to the same period last year.

This marks a continuation of evidence of price stabilisation.

During May, the villa market registered 96.7 points, down just 0.2 per cent since January and the apartment market registered 98.8 points, up 0.3 per cent since January.-TradeArabia News Service