Dubai: Ready homes are what property purchasers in Dubai are into these days, with March witnessing the highest number of transactions – 860 – ever for already constructed villas or townhouses. The numbers also provide that the active upturn in demand for villas and townhouses has got staying power, with purchasers making use of favorable costs and a need for bigger spaces.
During the initial three months, one out of every three residential secondary properties sold was either a villa or townhouse, confirming a trend that has been confirmed since the pandemic struck and residents felt the want for an ample amount of space and a bit of green.
Top spots for villas
Dubai Hills Estate, Arabian Ranches, The Springs, and Nakheel’s Nad Al Sheba community made up 30% of all such prepared homes sold in the initial three months of the year. Taking all things together, 2,231 prepared villas and townhouses were sold in Q1-2021, quite a big lead on the 673 units in the initial three months of the previous year, as indicated by Property Finder.
A three-room Dubai Hills home as of now records for Dh3.5 million and over, while at Arabian Ranches, there are listings from Dh2.4 million or somewhere around there.
As per market sources, late inquiries have overpowering supported prepared options rather than buy off-plan. It has seen developers push 10-15 percent straight discounts on their off-plan projects to get a portion of the purchaser interest that is out there.
“Developers are also jumping onto the bandwagon and adding new villa/townhouses phases into existing projects… which are selling out within hours after hitting the market,” said Lynnette Abad Sacchetto, Director of Research & Data at Property Finder.