VILLAS IN DUBIA — THE LATEST PROPERTY TREND

The Dubai
property market has been well studied in the past with much focus on the dips
in value and the financial problems caused. However, times are changing in a
big way and Dubai is seeing increased levels of interest and activity across
the Dubai real estate market you can see here the type of property that is currently
on offer and for what price.

Global
Property

Leading
independent estate agent and global property consultancy, Knight Frank reveals
Dubai’s villa property market is forecast to be one of the strongest performers
in the world this year. The global estate consultancy also named the emirate
alongside Moscow and Miami as the prime property markets likely to shine
brightest next year.

Knight Frank’s The Wealth Report also said Dubai
achieved the world’s second highest property price growth in the last year,
with real estate values seeing a 20% rise, with Jakarta real estate prices
increasing by 38%.

The report also
revealed Dubai was the 19th most expensive city in the world to buy
property in, costing between $520 (£328) and $580 per sq ft. A spokesperson for
Knight Frank claimed Dubai’s property market managed to bounce back last year,
as a result of this high demand.

Limited
Supply of Luxury Homes

They said villa
prices in Dubai were set to be pushed higher due to the limited supply of
luxury homes, especially on Palm Jumeirah and Emirates Hills, that’s why the
prices in the luxury villa market to rise by between 5-10 percent in
2013,” Knight Frank said in a new report.

Established
villa communities such as Palm Jumeirah, Meadows and Emirates Hills will remain
attractive locations for buyers over the secondary villa markets, while on the
apartment side Downtown Dubai will continue to dominate. Apartment prices in
key, prime locations, such as Downtown Dubai will see the highest increases
throughout the coming year,” Richard Paul, Associate Director, Cluttons Dubai.

“The price of
properties, particularly villas has grown significantly over the past 18
months. The best performing areas have been the Villa project and Arabian
Ranches where price appreciation has reached around 25 per cent over the past
year. To suggest that this rate of growth will continue is unrealistic, but it
does not mean that a more sustainable growth rate of around seven per cent
cannot be achieved.”

“Generally any
development that provides quality specifications, design and most importantly
excellent location will see growth through the next 12 months.”

This growth in
prices installes confidence in investors and this is the prime time to buy the
most luxurious apartments or villas whilst they are at lower prices, and get
ready to sell it next year at a double price because the property market is
rising again. Although the overall market is in a very good position, buying a
villa is highly recommended because villas are the latest property trend in
Dubai .