Dubai Real Estate Sees Rise in Villa Sales

Dubai Real Estate

Things are looking good for Dubai’s villa segment, which is expected to record up to 50% growth during the final quarter of the year. The villa segment looks set to drive strong growth in the Dubai real estate market ahead of the delayed Expo 2020 Dubai.

Encouraging figures shown by the Dubai-located property website Zoom illustrated that transactions for 1400 villas worth Dh3.1 billion and 2284 villas worth Dh5.4 billion were recorded in quarter one and quarter two, respectively. Figures for the third quarter appear to be continuing this upward trend.

“Expo 2020 is round the corner and it will lead to positive sentiments in the market. The areas close to the site of Expo 2020 will witness more transactions for villas in Dubai during the fourth quarter as the demand picks up with every passing day,”

Ata Shobeiry, Chief Executive, Zoom Property.

And with the six month long exhibition looming, demand for villas close to the exhibition site is expected to skyrocket in over the coming months.  Demand for Dubai real estate is expected to be particularly high in the MBR City, Dubailand, Palm Jumeirah, Arabian Ranches, Dubai South, Dubai Hills Estate and DAMAC Hills 2 areas.

Dubai real estate demand surges post-Covid

The global return to some degree of normality following the easing of the global pandemic is also thought to have had an influence on the increased demand for Dubai real estate.

The pandemic and remote working situation has led to an emerging post Covid global trend which has people showing strong interest for villas and townhouses. Occupiers are looking and opting for properties with open spaces, green areas, community facilities and additional amenities, and this has been one of the biggest reasons for the increased sale of villas

Ayman Youssef, Vice President, Coldwell Banker UAE

MBR City recorded a 18.5% rise in sale price and Palm Jumeirah a 10.5% rise during the past six months. Arabian Ranches showed increases of 21.24% and Jumeirah Park 19.26%

Upward trend set to continue

Since villa communities account for less than 20% of the available Dubai real estate stock, it can be expected that supply will continue to outstrip demand, driving further price increases. This is especially true since the opening of the border and recent introduction of green visas.

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