Demand for larger villas and townhouses in Dubai are at record levels as the coronavirus pandemic continues to set new trends in the real estate sector.
According to Property Finder, transaction numbers were higher than ever with record breaking month-on-month sales for ready properties, with the villa/townhouse segment leading the way.
It added that one in every three residential secondary properties sold during the first three months of 2021 was a villa or townhouse.
“Over the last year, we at Property Finder have seen a significant demand in the data and trends of the villa/townhouse sector. We have seen the search trends increase on the website which transpired into sales transactions over the months in 2020,” said Lynnette Abad Sacchetto, director of Research & Data.
“This trend has continued into 2021 and we don’t anticipate it to stop anytime soon. 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.”
According to Data Finder, the real estate insights and data platform under the Property Finder Group, the total number of secondary sales comparing Q1 year-on-year increased by 72 percent.
Ready apartment sales increased by 40 percent and the ready villa/townhouse sales increased by a huge 231.5 percent with 2,231 sold in Q1 compared to 673 sold in Q1 2020.
Dubai Hills Estate, Arabian Ranches, The Springs and Naad Al Sheba accounted for 30 percent of all secondary villa/townhouses sold in the quarter.
A UAE-born start-up, Property Finder has branched out of the country’s shores and operates in a total of seven markets, including Qatar, Bahrain, Saudi Arabia, Lebanon, Egypt, and Morocco, and has a significant stake in the second-largest property portal in Turkey.
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