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Tempting Pricing of Dubai Villa Market Attracts Transactions

First six months this year witnessed the rise in mount of transactions of Dubai residential space of real estate market. Most of this activity is due to off plan and affordable segments of the market. At the same time secondary sales and premium sectors of the villa market have made efforts which resulted in solemner sales and rental numbers.

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Tempting Pricing of Dubai Villa Market Attracts Transactions

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  1. Tempting Pricing of Dubai Villa Market Attracts Transactions First six months this year witnessed the rise in mount of transactions of Dubai residential space of real estate market. Most of this activity is due to off plan and affordable segments of the market. At the same time secondary sales and premium sectors of the villa market have made efforts which resulted in solemner sales and rental numbers. Picture Courtesy: inmannews-wpengine.netdna-ssl.com The ongoing impulse in the sales activity is primitively driven by end users, especially first time buyers who are entering the market with the enthusiasm of low prices and attractive payment plans offered by some developers. Creative mortgage products by certain local banks have also contributed towards this activity on an increased level. This means that the property price points and convenience criteria for mortgage along with two big entry barriers for new entrants into the property market has been lowered which results in an uptick in the activities of the market. The Dubai house price index tracked the average sales price of residential units over the emirate which displays the decline in the average sale prices of the villas. The major contributor to this decline is the rise in the activity in the lower end of the villa market because of the new

  2. affordable unit supplies spreading across locations like Nshama Town Square townhouses, Arabian Ranches 2, Emaar's Urbana Townhomes & Layan Community. This trend is right in the secondary sales transaction market also. However, as compared to last year, this year the situation has changed where affordable villas communities like Mira having the most amounts of transactions. The alluring prices of affordable villas have resulted into this segment to capture some amount of market share from the residential markets as well. Picture Courtesy: www.azamaraclubcruises.com Because of the land cost for developers is low due to new off plan villa communities in upcoming peripheral locations; this has resulted into low price points. Also, many key developers in their master planned communities have recently launched townhouses and villas much smaller than the average market sizes. This will hardly have any positive impact on the property values any time in the near future despite of this minor momentum in off plan villa sales. The supply will outstrip demand as new inventories of villas will enter the market in communities like Arabian Ranches, Akoya and South Dubai in coming 3 years. Taking all the things into consideration, Dubai residential market will approximately continue to be a tenant’s market. Get Connected on Social Media:

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