At the end of Q1 of 2019, a hundred and seven villas were sold for a total of AED 188.68 million in some of the most telling areas of Dubai. The average sale price of AED 1.76 million is not an accurate representation of market segmentation that is hugely skewed between the affordable and luxury villa properties. Here is a breakdown of what resulted in these sales.
Popular Villa communities
The number of villa transactions that occurred in Dubai during March 2019 reveals that Al Thanayah Fourth also known as Emirates Hills Third saw the maximum number of closures with highest total worth in sale price. The second closest being Jabal Ali First (Al Furjan area) in terms of total worth and Saih Shuaib in terms of transactions.
Al Thanayah Fourth is flanked by several villa communities in the Emirates Hills area. The Meadows and the Springs are closest and the community is nestled amidst the best schools in Dubai. With the Montgomerie Golf Club in walking distance it is no wonder that this community has grown in popularity with the top deals for the beginning of this year.
Jabal Ali or Jebel Ali as it is most commonly spelt, is a port after which came the Jebel Ali freezone and the industrial area. One of the city’s first residential communities, Jebel Ali started to transform when by mid 2000s communities cropped up around the village and the Ibn Battuta Mall had been built. The area is neighbors to communities such as Discovery Gardens and The Greens. Resting in the shadows of tall buildings of Dubai Marina, Jebel Ali offers villa lifestyle with the charm of older Dubai and a chance to hang out at the Jebel Ali Club, one of Dubai’s most popular meeting places that features a restaurant, swimming pool, tennis court and gym.
In popular communities, while Al Barsha South Fourth made a respectable number in villa transactions with close to AED 15 million from sales of 11 units, the world renowned Palm Jumeirah made a single transaction for AED 18.5 million. The highlight of this infographic is this where Dubai’s real estate market offers all types of housing for expats.
The two extremes of the market: Boon or a bane?
While the more affordable villas attract more number of people who rush to buy it, the luxury market is slightly tricky. When you find the right buyers, fewer transactions yield high total worth which allows you to dedicate your time to more such fruitful ventures. However that needs a different kind of sophistication to meet the requirements of international property investors and HNIs.
Thankfully, Dubai has the smart vision to ensure the needs of investors are taken care of, all while providing with top notch facilities for its residents and home buyers. It needs to be seen, whether the dividing gorge will be an advantage to Dubai real estate market in the long run.