There’s a lot going on in Dubai's real estate market in 2024. With property transactions soaring to AED 346 billion in the first half of the year, marking a 23% increase from 2023, the question on many investors' minds is: Is it the right time to invest and buy a villa, or any kind of Luxury penthouses for sale in Dubai? Here's what the experts think.
Currently, the Dubai market in particular is performing well in the real estate sector and there are indications that this trend is only set to continue. There were 100,520 deals closed, and 50 thousand new investors in the first two quarters of 2024, the demand for villas has never been higher. Such performance has attracted investors’ interest both domestically and internationally.
Another factor that can also be attributed to the demand for villas in Dubai is the current situation of market supply and demand. Industry trends show current statistics depicting the fact that out of the total properties that are built, only about 15% constitute of villas and townhouses. This scarcity relative to high demand is likely to support villa prices in the medium term, making it an attractive investment option.
Experts highlight that buyers have enjoyed strong returns over the past three years. The price per square foot for the villa sales has risen by 22% year-on-year and the volume of sales transactions has risen to 80% for the same time span. This indicates a high level of interest in the real estate market from both consumers and investors, making Dubai, in comparison to other global cities, one of the most desirable markets for property returns whether you're looking to Buy one bedroom apartment in Dubai or invest in larger properties. Directing money into villas can be highly profitable, providing a net return of 5-8%, and further illustrates this investment opportunity as lucrative in the given segment of the market.
The property market for luxury villas is especially active, which recorded as many as 196 transactions of properties that cost more than $10m each in the first half of the current year. This includes record sales as the villa in Tilal Al Ghaf, AED 105 million, indicating a demand for the high end of the market.
In Dubai, numerous governmental projects such as the Dubai 2040 Urban Master Plan set out to systematically improve the significance of greenery and infrastructure quality for the population. Permanent residencies such as the Golden Visa are also giving a boost to proficient employees, investors, and businessmen, which in turn supports the demand for real estate.
In the context of villa investments, one very important element is the area. Areas like Tilal Al Ghaf, Town Square, and Villanova have risen to high demand. These areas were once culturally regarded as peripheral but have become some of the most sought-after today as a result of growth and development attracting those looking for Commercial villa for rent in Dubai or seeking luxury penthouses.
Hence, it is a critical question to answer: Should you invest in a villa now or later? The prevailing market situations, active investors, and possible future revenues make it the best time to invest in Dubai villas. However, it is crucial to remain prudent and evaluate and plan for your financial standing and overall goals before buying.
Whether investing for savings or to enhance your quality of living, Vardhman Realty is here to provide you with the necessary assistance and make sure that your investment surges ahead. Please do not hesitate to contact us and we will give you an insight on which villa to invest in Dubai, especially with this booming market. Here is your opportunity to own a property in the fastest-growing city in the Middle East Dubai with Vardhman Realty. Even if you're interested in short term villa rentals in Dubai, we can guide you toward the best options.
