Villas sales increased by 209% and apartment sales increased by 38.55% MoM in May.
Real estate sales increased in May by 47% from April in Dubai, showing a positive sales trend and the confidence of investors. Substantial growth has been observed in Dubai’s property market as the sales of properties rose significantly in May from April.
The sale of villas and apartments has increased in Dubai, highlighting real estate trends. The sale of luxury villas increased by around 209% MoM in May and that of apartments shot up by around 38.55%. Villas worth AED 3.7 Billion have been sold out in May as compared to AED 1.16 Billion in April.
Sido Jose, Off Plan manager at Betterhomes, said, “Post COVID-19, people became more interested in larger spaces rather than apartments, leading to a high demand for villas.”
He further added, “The surge seen last month was due to the launch of new master communities by Aldar, DAMAC, and Emaar, which boosted sales. Additionally, with rising rents, people are preferring to buy instead of renting.”
Most villas have been sold out in Haven, Tilal Al Ghaf, Dubai South, Reportage Village and MBR City. Luxury enthusiasts made purchases in these communities because of their unique offerings and high-end facilities and amenities.
This recent trend has highlighted the interests of real estate investors and home-seekers. Given this hike, investors have started working on new projects to meet this increasing demand for luxury real estate in Dubai and offer people with modern living facilities.
Locals and foreign nationals both buy luxury real estate in Dubai, making it one of the best places to consider for real estate investment.
