Ready villas/townhouses sales hit new records in Q1

Ready villas/townhouses sales hit new records in Q1

Almost all major communities have had an increase in sales numbers by more than 100 percent.

Dubai's residential sector witnessed increased activity in the first quarter of the year. According to UAE real estate portal Property Finder, a total of 2,231 ready villas/townhouses were sold during the period compared to 673 last year.

A lot of new trends emerged in the real estate sector during the pandemic and not only in Dubai but all over the world. One of the most significant trends was a clear increase in demand for villa/townhouses which have affected sales transactions greatly, stated Property Finder in its report.

Q1 transaction numbers were higher than ever as sales for ready properties broke records month-on-month, with the villa/townhouse segment leading the way.

In fact, as of Q1 2021, one in every three residential secondary properties sold was a villa/townhouse, the report added.

Lynnette Abad Sacchetto, Director of Research & Data, said, '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'.

'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,' she added. 

According to the portal, the total number of secondary sales in Q1 2021 increased by 72% year-on-year. Ready apartment sales increased by 40% and ready villa/townhouse sales increased by a significant 231.5 percent. 

'When comparing the top communities from Q1 2020 to Q1 2021, we see all of them showing a remarkable increase in sales numbers. Dubai Hills Estate, Arabian Ranches, The Springs and Nad Al Sheba account for 30% of all Secondary Villa/Townhouses sold in Q1 2021,' explained Sacchetto. 

Nad Al Sheba, a ready villa/townhouse community, has not only risen significantly but also had the highest number of ready houses sales in Q1 2021.

Almost all major communities have had an increase in sales numbers by more than 100 percent but the most notable are Town Square with an 800 percent increase, Green Community with a 592 percent increase, Meydan with a 411 percent increase and Palm Jumeirah with a 364 percent increase. 

According to Property Finder, Dubai Hills Estate accounted for 9 percent of all searches made for villa/townhouses in Q1 followed by Arabian Ranches (8 percent), Palm Jumeirah(7.1 percent), Mohammed bin Rashid City (4.5 percent) and Damac Hills(4.4 percent).

Of this, 15.3 percent of all searches were for 3-bedroom units, 13.4 percent for 4-bedroom units and 11.3 percent for 4+ bedrooms. The top searched keywords during this time period were 'pool', 'upgraded', 'furnished', 'payment plan', ect.

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