More Properties Bought In Dubai Since 2015

A recent report on property transactions has revealed the highest number of villas and townhouses sold for 5 years in Dubai. In the first 9 months of 2019 up to the end of September, close to 6,000 villas and townhouses were sold, more than the total number of transactions in 2017 and 2018 combined. September was the best performing month with close to 1,000 villas and townhouse transactions completed and registered, which contributed to the over 2,300 that were sold in the three months between July and September. 

Some of  the key reasons the report from online property portal Property Finder reveals behind the surge in transactions is a combination of more affordable housing and a greater supply of ready to move into properties. Commenting on the findings of the report, Lynnette Abad, Director of Data and Research at Property Finder said, “In 2017, we saw the first wave of affordable townhouses hit the market in Reem Mira and they were in high demand. Developers have since followed suit as they realised the trend and demand for affordable stock was clearly there."  

So far this year over 3,000 ready to move into villas and town houses have been registered in Dubai compared to just under 2,600 in the first 9 months of last year and less than 1,500 in the first nine months of 2017.

“There is a good amount of affordable villas and townhouses available in the market today and investors have their choice, both in the ready and off-plan sectors. There are also good deals to be had in the off-plan and ready space as developers are eager to clear their inventory,” continued Lynnette Abad of Property Finder.

The best performing communities that offer properties that are ready to move in have been Wasl Gate, Emirates Living and the new development of Dubai Hills Estate. Off plan has also been buoyant with communities such as Villanova, Dubai South, the two best performing in terms of general villa and townhouse transactions overall, and Arabian Ranches 3 all performed well.

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