Given all of the disruption caused by the ongoing coronavirus pandemic – not least to the economy of the United Arab Emirates (UAE) and the wider world – it might have been understandable if prospective homeowners in Dubai had aimed their sights slightly lower in recent months than they may have done if the virus had never emerged.
However, that is not the trend observed by the UAE’s premier online house search portal, Property Finder. Indeed, the website found that the COVID-19 outbreak and the associated lockdown measures had actually motivated people to look for larger properties in the city.
Small apartments out, bigger villas in?
As reported by Arabian Business, Property Finder said that since the onset of the international pandemic, there had been a shift in demand from traditional small family apartments to the secondary villa and townhouse sectors.
Newly released figures indicate that there were 493 sales transactions for ready villa/townhouses in July. Indeed, the Property Finder group’s real estate insights and data platform, Data Finder, recorded a more than 58 per cent increase in the number of transactions during July, compared to the same period in 2019.
A company statement said: “We can see in our data this trend has grown significantly since the crisis started and continues to have an effect on the market.”
What were the most sought-after parts of Dubai?
The statistics also revealed that the top area for secondary villa/townhouse sales was Nadd al Sheba, which accounted for 14.4 per cent of transactions. Next up in the rankings were Dubai Hills Estate (6.7 per cent), Al Furjan (5.9 per cent), Dubai Industrial Park (4.9 per cent) and Mudon (4.7 per cent).
With regard to off-plan areas, it was Dubai South where villa/townhouse sales were at their greatest, at 28.1 per cent. This was followed by such parts of the city as Dubai Hills Estate (23.4 per cent), Arabian Ranches 3 (15.6 per cent), Town Square (10.9 per cent) and Dubai Land (7.8 per cent).
Lynnette Abad, Property Finder’s research and data director, commented: “Nearly 35 per cent of all searches for villa/townhouses in the past four months have been concentrated around Arabian Ranches, Dubai Hills Estate, Palm Jumeirah, Damac Hills and the Springs.
“Per the data, it is clear that consumers are looking for well-established communities with ready properties.”
Don’t forget to invest in the right maintenance services!
But of course, it is one matter to purchase the most suitable Dubai home, and another matter to ensure it is being appropriately looked after. The latter may be especially difficult for you to achieve if you spend a significant proportion of your time as a Dubai homeowner away from the city or even abroad.
This is precisely why so many Dubai residential property buyers place their faith in Renovo when it comes to such renovation and maintenance services as carpentry, painting, plumbing and much more. Of particular importance to many local property owners right now, we are also one of the leading providers of home cleaning and sanitisation services in the UAE.
So, why hesitate to contact the Renovo team today to discover how we could work closely with you to give you peace of mind, at a time when it could scarcely be more vital for us all?