Dubai villa and townhouse sales jump more than three-fold in the first quarter
Sales of ready villas and townhouses in Dubai jumped more than three-fold during the first quarter as residents sought more spacious homes amid the coronavirus pandemic, according to listings portal Property Finder.
Close to 2,231 ready villas and townhouses were sold during the first quarter, compared to 673 units during the same period a year ago.
Areas such as Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, DAMAC Hills and Jumeirah Village Circle, among others registered higher sales of ready villas/townhouses, according to Property Finder.
“In the first quarter of 2021, the transaction numbers were higher than ever and we have seen record-breaking month-on-month sales for ready properties, with the villa/townhouse segment leading the way,” the report said.
“In fact, as of first quarter of 2021, one in every three residential secondary properties sold in Dubai was a villa/townhouse.”
Dubai Hills Estate recorded 203 sales of villas, a 145 per cent year-on-year increase, while Palm Jumeirah saw a more than four-fold rise in sales transactions to 65. In Arabian Ranches, more than 100 villas were sold during the period, according to the report.
Other areas including DAMAC Hills, Jumeirah Village Circle, The Springs, Jumeirah Golf Estates, The Meadows and Dubailand also recorded higher sales. Town Square recorded 99 secondary villas/townhouse sales in the first quarter, compared to 11 during the same period last year.
Nad Al Sheba registered 248 sales transactions during the first quarter from zero last year as new properties were handed over to buyers, according to the report.
Ready apartment sales also increased by 40 per cent during the period.