It won’t be incorrect to state that villas and penthouses for sale in Dubai have been the driving force of the property market. Apartments for sale in Dubai too, have collected in high numbers, but there has been an eminent development in the sales volume and contract worth of villas in Dubai.
A Record-Breaking August
Dubai Villa market presents massive growth in August 2021. With 5,780 sales respecting Dh14.97 billion, it has now become the 2nd highest month the volume of sales contracts after December 2013. Earlier, the second spot for maximum sales transaction in one calendar month was engaged by January 2017.
With these figures, the total number of dealings in 2021 has amounted to 37,537 worth AED88.12 billion. Figures show that the capacity and worth of dealings in 2021 have already exceeded the figures attained by the Dubai property market in 2020, which continued at 35,401 dealings of AED71.87 billion.
Villa locations in Dubai have either continued to stabilize or enlarged as compared to the previous month. Moreover, this portrays a rising trend in the real estate sector in Dubai, a flooring way for its retrieval. Six Senses Residences is a new luxurious project providing villas and penthouses for sale in Dubai.
Let’s analyze the key aspects that led to the high presentation of the villa market in Dubai:
Return of Investors
The second section saw the reappearance of investors in the Dubai property market. Further, the positive results created in Q1, 2021 caused a higher number of investors to inflow into the market. It led to improved sales volume and property values, mainly in the residential sector. The measured COVID-19 situation in Dubai also played an essential part here.
With the trend in favor of villas, investors get benefit from this chance, which has resulted in a higher number of dealings for these separate housing units. W Residences at Downtown is currently providing luxury apartments for sale in Dubai at reasonable prices.
An Increasing Need for Bigger and Open Residences
As the first surge of COVID-19 hit Dubai in early 2020 and people were limited to their houses, many realized the significance of consuming outdoor spaces and huge residences. Moreover, this led to a flow in demand for villas and penthouses for sale in Dubai. As per figures, there was a 58% growth in searches for villas and townhouses in July 2020 in contrast to the same month in 2019.
The hugely expected worldwide event Expo 2020 Dubai is just a few days away now. The display, which is set to welcome an enormous number of guests from over 190 countries, lasts for six months. It is expected that areas near the Expo 2020 site will observe high demand for residences. Hotels and resorts, too, are predictable to continue busy during this tenancy.
With people flying to Dubai in high records, countless people will search for villas and apartments for sale in Dubai for rent purposes, along with other short-term rental choices. Investors and end-users are expecting a growth in rental income when the exposition begins.
A High ROI
Even since the demand for villas in Dubai has observed a flow, ROI has enhanced as well. Inexpensive rates (particularly, in the competitive market) are other features that are helping investors to receive a high ROI from villas.
With more renters displaying interest in villas, as seen by the growing investigations for villas for rent in Dubai, these properties are generating a higher rental yield, enticing more investors and end-users.
High Performances in Key Areas
Many villa communities in Dubai have shown remarkable growth in terms of capital improvements. Arabian Ranches stayed at the forefront with 22% capital gains, followed by Jumeirah Island (20.8%). Dubai Hills Estate and The Lakes also displayed the progress of 18.5% and 18.3%, separately.
The Way Forward
Keeping in view the figures and rising trend of the market, it’s safe to say that the Dubai property market is on the road to retrieval. This, attached with ex-pat and investor-friendly guidelines, such as renewable golden visa, corrected business rules, etc., make it the best time to purchase a property in Dubai. Furthermore, you can find luxury apartments for sale in Dubai at reasonable prices. You can check out the listings for the most desirable properties in key areas of Dubai on the Fam Properties portal.