Dubai Property Buyers Selling Homes as Prices Surge by Up to 200%

Dubai’s residential market is increasingly turning into a seller market to cash in on the gains made over the past three-year rally in property prices.

Experts within the industry suggest that the property price surge is beginning to taper off, with growth poised to level out in the foreseeable future. This trend is prompting certain investors to divest and redirect their funds towards emerging areas that hold the potential for superior returns.

Property prices in Dubai have increased multiple times, crossing the 2014 peak last year due to unprecedented demand witnessed in the post-pandemic period.

Buyers who made property investments during the pandemic year are witnessing remarkable price appreciation in their assets, with values climbing by up to 200 percent. Consequently, a growing number of these buyers are transitioning into sellers, seeking to leverage the significant gains accumulated over recent year

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How Dubai Islands, Palm Jebel Ali, Haven, Acres are setting up an offplan villa surge in Dubai

Dubai developers are racing each other on off-plan villa launches, and buyers are hooked

With property developers, it’s always a question of whether they have the right product type available in the market to meet demand. Going by that yardstick, since the beginning of the year, developers in Dubai are paying extra attention to one particular category – villas.

In recent weeks, the number of villa and mansion launches (with townhouses too thrown into the mix) have shot up significantly, with all of the city’s biggest developers – Nakheel, Emaar, Meraas – joining in.

This week, Nakheel scored a second big hit with its villas on an island push. This time, it was Dubai Islands, where the first release of villas was met with snaking queues running into hours.

This week, Nakheel scored a second big hit with its villas on an island push. This time, it was Dubai Islands, where the first release of villas was met with snaking queues running into hours.

 

Market sources say there is an element of price discovery with the values set for the initial Dubai Islands’ villa releases. “What they do is set the foundation for all future releases,” said an estate agent. “Nakheel’s doing well with its spread out new release strategy, whether at Dubai Islands or at Palm Jebel Ali (since October).

In fact, the Palm Jebel Ali (re)-launch was just what the Dubai property market needed to set off a full-scale revival in new villa launches for Dubai. Again, it’s all about timing, as available for sale villa stocks had dropped significantly all through 2022 and most of 2023.

At one point, it seemed the entire offplan surge was confined to towers, apartments and penthouses. Sure, there were a few villa projects, but these were mostly bespoke ones, and typically on Palm Jumeirah or Jumeira Bay.

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