Dubai Villas Become More Affordable Due to Over Supply

  • March 05, 2019

When you compare the number of villas completed between 2017 vs 2018, one can see the eye-popping percentage increase in Dubai's supply of brand new villas for both, buying and investing. This trend continues on to 2019 as well.

A report by Core Consulting found that 21,700 residential units were delivered in 2018, the highest number of deliveries since 2011. Approximately 83 per cent of them were apartments, while 17 per cent were villas.

Dubai Land witnessed the highest number of deliveries with over 25 per cent of the total stock, followed by Jumeirah Village Circle and Jumeirah VillageTriangle (13 per cent).

Prominent handovers included multiple project deliveries in Damac Hills Master Development, Hayat Townhouses, Bluewaters Residences and Oia Residences in Motor City.

Next year, for 2019, Core estimates over 28,500 units (against an announced number of 56,000 units) will be handed over by the end of the year. Around 81 per cent are expected to be apartments, while 19 per cent are villas.

The majority of the deliveries are forecast to be in the affordable to mid-market segment in the outer areas with Dubailand and Jumeirah Village Circle and Triangle accounting again for one-third of all handovers.

Prices are too competitive now and ideal for renting or buying to upgrade a home.