According to the analytical studies of the consulting company ValuStrat, there is an increased demand for premium properties in Dubai for 2021. Buyers choose villas and townhouses in areas, such as Palm Jumeirah, Arabian Ranches, Lakes, Jumeirah Beach, and other communities with separate and luxurious lifestyles.
So, in Arabian Ranches, the number of transactions increased by almost 60% over the year, and villa prices increased by 34.1%. In the Lakes community, the figure is slightly lower: the cost of houses increased by 31.2%, and sales growth was 16%.
According to experts, the cost of real estate in prestigious locations will only grow. Haider Tuaima, head of Research at ValuStrat, says that this situation is due to increased demand. This trend will continue in 2022, although the rate of price increase may fall to an average of 5-10%. Analytical data shows that investments in luxury houses outpace investments in apartments. Housing prices have already reached pre-pandemic levels.
There is a need for buyers for more spacious living spaces. If in 2019 the average size of housing was from 464 sq. m., in 2020, the indicator has already grown to 580 sq. m. In 2021, the average values reached 626 sq. m.