A recent report by Property Finder (2024) indicates a significant trend in Dubai’s residential market. A substantial 40% of property sales in 2024 involve villas, with a clear preference for larger dwellings. 85% of villa buyers seek properties with three or more bedrooms.
Younger generation of buyers is entering the market. In Q1 2024, 39% of villa buyers were under 40 years old, compared to 31% in Q1 2023. Motivated by rising rental costs, these millennial buyers are strategically investing in spacious villas for long-term ownership.
Flexible payment plans are enabling buyers across a wider income spectrum to consider villa ownership. The number of buyers earning below Dh50,000 per month has grown from 37% in Q1 2023 to 47% in Q1 2024, signifying a more diversified property market.
Despite rising villa prices, the return on investment remains compelling. In 2023, Palm Jumeirah reported a 41% increase in returns for five-bedroom villas, while Dubai Hills Estate and Arabian Ranches witnessed increases of 38% and 29% respectively. This data suggests that villas are not only a lifestyle choice, but also a sound financial investment for many buyers.
Property seeker preferences are shifting towards villas offering specific amenities. Based on Property Finder data from the past three years, the most sought-after features include maid rooms, study areas, and private pools. Additionally, there’s a growing interest in Vastu-compliant properties and pet-friendly communities.
This trend reflects a growing desire for a holistic lifestyle experience within Dubai. The demand for spacious villas with desirable amenities suggests a growing focus on creating vibrant and family-oriented communities within the city.
Publish 31 Apr 2024
Source: https://www.khaleejtimes.com/business/realty/dubai-demand-for-larger-villas-indicates-long-term-living-plans-across-the-emirate
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