Highlights include:
- 2,231 ready Villas/Townhouses were sold in Q1 of 2021 compared to 673 sold in Q1 2020
- Secondary, ready apartment sales increased by 40 percent
- Dubai Hills Estate, Arabian Ranches, The Springs and Nad Al Sheba account for 30% of all Secondary Villa/Townhouses sold in Q1 2021
- March 2020 had the highest number of ready Villa/Townhouses sold in a single month historically (860)
- 1/3rd of all secondary residential sales in Q1 2021 were villas/townhouses
Dubai: The pandemic brought forth a lot of new trends into the real estate sector, not only in Dubai but across the world. One of the most significant trends was a clear increase in demand for villa/townhouses which have transpired into sales transactions.
In Q1 2021, the transaction numbers were higher than ever and we have seen record breaking month-on-month sales for ready properties, with the villa/townhouse segment leading the way. In fact, as of Q1 2021, one in every three residential secondary properties sold was a villa/townhouse.
“Over the last year, we at Property Finder have seen a significant demand in the data and trends of the villa/townhouse sector. We have seen the search trends increase on the website which transpired into sales transactions over the months in 2020. This trend has continued into 2021 and we don’t anticipate it to stop anytime soon. Developers are also jumping onto the bandwagon and adding new villa/townhouses phases into existing projects, which are selling out within hours after hitting the market” comments Lynnette Abad Sacchetto, Director of Research & Data.
According to Data Finder, the real estate insights and data platform under the Property Finder Group, the total number of secondary sales comparing Q1 year-on-year increased by 72%. Ready apartment sales increased by 40% and the ready villa/townhouse sales increased by a huge 231.5 per cent. 2,231 ready Villas/Townhouses were sold in Q1 of 2021 compared to 673 sold in Q1 2020.
When comparing the top communities from Q1 2020 to Q1 2021, we see all of them showing a remarkable increase in sales numbers. Dubai Hills Estate, Arabian Ranches, The Springs and Naad Al Sheba account for 30% of all Secondary Villa/Townhouses sold in Q1 2021.
Nad Al Sheba, a ready villa/townhouse community, has risen significantly and is the area for the most number of ready houses sold in Q1 2021. In Nad Al Sheba, there were no ready villas sold in Q1 2020 and since the properties handed over during the past 12 months, we see its sales climb from zero in Q1 2020 to 248 properties sold in Q1 2020. Almost all major communities have had an increase in sales numbers by more than 100% but the most notable are Town Square with an 800% increase, Green Community with a 592% increase, Meydan with a 411% increase and Palm Jumeirah with a 364% increase.
According to proprietary Property Finder search data, Dubai Hills Estate accounted for 9% of all searches made for villa/townhouses in Q1 2021. Followed by Arabian Ranches(8%), Palm Jumeirah(7.1%), Mohammed bin Rashid City(4.5%) and Damac Hills(4.4%). 15.3% of all searches are for 3-bedroom units, 13.4% for 4-bedroom units and 11.3% for 4+ bedrooms. The top searched keywords during this time period were pool, upgraded, furnished, payment plan and corner unit.
About Property Finder – www.propertyfinder.ae
Property Finder is the leading property portal in the MENA region and Turkey that facilitates the house-hunting journey for both buyers and renters.
Founded in 2007, the website has evolved over the years as the go-to platform for developers, real estate brokerages, and house hunters to make informed decisions on all things real estate.
A UAE-born start-up, Property Finder has branched out of the country’s shores and operates in a total of seven markets, including Qatar, Bahrain, Saudi Arabia, Lebanon, Egypt, and Morocco, and has a significant stake in the second-largest property portal in Turkey, which has over 6 million monthly visitors and more than 18,000 real estate agents.
US private equity firm General Atlantic led Property Finder’s latest round of investment of a total of $120 million in 2018. This is being used to hire further exceptional talent and investing in its technology and product capabilities.
The property portal employs over 450 employees globally, of which 204 people work out of its Dubai office, and generates over six million monthly visits as a Group.
In April 2019, Property Finder announced the acquisition of JRD Group, following an increased investment in Turkish portal Zingat.
In 2014, Property Finder acquired eSimsar.com, the top property portal in Saudi Arabia, while in 2013, the Group bought out realestate.com.lb, the number 1 property portal in Lebanon, and lastly, the acquisition of Selektimmo, a Moroccan portal, to pad out sarouty.ma, Property Finder’s Moroccan offering, in 2016.
For media enquiries, please contact
Faisal Zaidi
faisal@propertyfinder.ae
© Press Release 2021
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