Growing demand for villas in Dubai

21 / 10 / 2020

According to the research work carried out by Colliers International, it is possible to predict an increase in demand for townhouses and villas, and, in this regard, an increase in prices for this type of real estate. As for apartments, there is a diametrically opposite situation, demand and price are only going down due to the coronavirus pandemic, which affected the attractiveness of apartments on the market.

More consumers are interested in purchasing their own houses for the purpose of independent use. Areas where all the necessary infrastructure has already been developed will be especially popular, and the demand for them will only go up. The rental prices are expected to be similarly competitive. According to forecasts, in the 4th quarter of this year, the number of concluded deals will increase, and a possible shortage of offers on the market is predicted.

The number of residents who have decided to move from an apartment to a townhouse or villa has grown significantly. This type of real estate has a number of advantages in a situation with the spread of COVID-19, for example: a separate territory with its own plot, a larger living area, which allows you to create a full-fledged workplace right at home and effectively carry out work tasks remotely.

Thanks to research work, one can see an increase in the popularity of their own homes by new consumers, it is worth noting that a large proportion of buyers use mortgages to buy real estate. Districts that are considered elite have also not been left out, and the demand for them is going up. For example: Jumeirah Islands, Palm Jumeirah, or District One.

According to forecasts, there will be from 25 to 30 thousand new residential properties in 2020, but today you can already feel a lack of supply in the areas of Jumeirah Park, Arabian Ranches and Emirates Living, where market activity is especially felt.

In new districts, which were implemented by developers with a good reputation and offered housing options, the supply became limited.