House prices in Dubai surge again during the third quarter, while rental growth continued to slow, broker Asteco said in a report published on Monday.

Asteco said villas witnessed the strongest growth in sales prices quarter-on-quarter, with villa prices jumping on average 24 percent in Q3, while apartment prices rose by an average of 20 percent.

The broker said growth in villa prices was driven by Downtown Burj Dubai, which saw prices skyrocket 61 percent.

Palm Jumeirah, Palm Jebel Ali and Emirates Hills also witnessed strong growth, with prices soaring 42 percent, 39 percent and 35 percent respectively, it said.

Growth in apartment sale prices was led by Discovery Gardens in Jebel Ali and International City, which saw increases of 39 percent and 31 percent respectively, while Business Bay and Dubailand both saw sales prices rise 29 percent.

Villas also witnessed the biggest increase in rental prices during Q3, with rentals climbing on average 11 percent quarter-on-quarter, while apartment rentals rose by an average of just 4 percent, Asteco said.

The broker said growth slowed from the previous quarter without giving comparative figures for the second quarter.

Downturn Burj Dubai led villa rental price growth as well, with rents jumping 25 percent. Apartment rental price growth was paced by International City and Jumeirah Lake Towers, where rents climbed 13 percent and 11 percent respectively.

Source: Arabian Business

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