Thursday, April 21, 2011

Dubai to receive 3500 new villas towards year-end

According to estimates by property experts, Dubai is likely to house about 1759 to 3500 new villas towards the year end.

One of the Senior Analysts at Landmark Advisory said that about 1759 new villas are likely to enter the market during 2011. This is exclusive of the major master developments that are currently on hold, including Jumeirah Golf Estates, Jumeirah Park, and the like.

According to Pooja Banwani, The Emirates Living Area Specialist at Harbour Real Estate, the figure could be in the range of 3000 to 3500 villas.

Cluttons reported that an estimate of 35,000 new homes will enter Dubai during 2011-12.

However, all experts agreed that villa prices have continued to remain stable during the past quarter, in comparison to apartment prices, which has seen only a marginal decline. Villa Prices has seen lesser decline over the past two years, than apartment prices. This trend is likely to continue as there is not much oversupply situation in this particular segment, say experts.

Although more villa projects may be delivered in Dubai, and there are chances for price declines, these villas will be easily absorbed by the market, and therefore, the prices of villas may again grow at a steady pace, says Pooja Banwani.

The latest report by Cluttons said that villa prices in popular locations such as Meadows, Arabian Ranches and Palm Jumeirah remained the same during the past three months. Meanwhile, the less-established villa locations such as Motor City, Victory Heights have all seen moderate drops of 3.6percent from the fourth quarter of 2010.


Dubai Property said...

This news is very strange because nowadays Dubai property situation is not very good therefore investment in Dubai real estate sector is very risky. I wish that these villas construction will be completed at the end of this year and these villas will open soon for visitors.

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