Hamptons International Attributes Decline to Limited Supply
Amid a scarcity of villa properties, Dubai witnesses a sharp decline in sales, according to Hamptons International.
In February, villa transactions in Dubai nosedived by approximately 55% compared to the previous year, as reported by Hamptons International. However, transactions surged by 22.8% compared to the previous month.
The consultancy clarified that the decrease in villa sales isn’t linked to dwindling investor interest but rather stems from a shortage of available villas in the market.
Hamptons highlighted forthcoming handovers of villa communities in 2024, such as Casa Serena and Tilal Al Furjan, as potential remedies to address this demand gap.
This downturn in villa sales contrasts sharply with the thriving apartment market, which witnessed a staggering 51% surge in sales during the same period, totaling over 9,500 deals.
The value of villa transactions witnessed a modest increase of 3.13%, amounting to AED3.3 billion, whereas apartment deals reached a total value of AED17.5 billion.
Despite the challenges, Hamptons remains optimistic about Dubai’s real estate market, citing the city’s economic diversification efforts, strategic location, and world-class infrastructure as attractive factors for investors and residents.
As long as these strengths persist and the market adapts to changing demands, Dubai’s real estate sector is poised to sustain its upward trajectory and retain its status as a global investment hub.