End-Users Drive Demand for Dubai Villas

A steady uptick in demand from end-users is expected to drive prices of villas and townhouses in Dubai as apartment prices face further declines on diminishing appeal in the wake of the pandemic outbreak. Colliers International in its outlook for Dubai residential market said given the continuing strong level of demand from end users in the market and people wanting to purchase property for their own occupation, it not only anticipates that villa and townhouse prices would remain strong but also an increase in prices in some areas in the fourth quarter. "This does depend on the level and quality of new stock entering the market and whether or not the off-plan stock also becomes available," said the report. The research shows that while prices will increase in mature communities for 'in demand" property, rental prices will remain competitive. The fourth quarter will witness increased amount of transactions and a shortage in supply of appropriate housing stock.