02 09 2020

Growth in demand for townhouses and villas in Dubai

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According to research conducted by Property Finder, in Dubai, the demand for spacious housing, which is not located in the heart of the city, namely for townhouses and villas, has grown significantly. This happened after the outbreak of the COVID-19 virus, growth began to move and is in no hurry to stop.

Low-rise properties in prestigious areas such as Palm Jumeirah, Dubai Hills Estate, Damac Hills, Springs, Arabian Ranches have accounted for at least 35% of search queries over the past 5 months. This growth in the popularity of this type of real estate can be called multiple. Even with the onset of an economic crisis from the consequences of the pandemic, people still strive to change the current lifestyle in apartments, to live in their own spacious houses. It was the coronavirus that pushed people to such a difficult decision.

Based on the data obtained, it can be concluded that people are going to leave their usual places of residence and move in the near future. This conclusion was made by analyzing the type of property in the search engine. People are mainly interested in ready-made projects and the secondary market in general. Developed infrastructure and a high level of comfort are important for them.

In just one month, in July 2020, the number of completed transactions broke a record and amounted to 493 transactions for the purchase of townhouses and villas. Compared to the same period last year, the growth is 58%. Nadd al Sheba became the leader among all districts of Dubai, its share of the total number of purchases is 14.4%.

And let's pay a little attention to the real estate that is under construction. Among investors, the most popular areas were Dubai South and Dubai Hills Estate. They were chosen by 28.1% and 23.4% of investors, respectively.