Due to the lack of available villas in Dubai, rentals have increased more than twice. These ranks are comparatively higher than they did for flats in the first quarter of this year. The demand for spacious living spaces began after the Covid-19 outbreak. It is continuing, currently fuelled by new visa changes. This created an increased demand for villas and townhouses from both tenants and buyers.
Villas And Bungalows Have Become A Necessity In UAE
Property sector experts claim that Covid has changed people’s buying habits since most residents now have considerably larger, open-plan homes essential. The enhanced convenience, more incredible views, and on-site amenities are the key reasons why many still want to stay in their current villas. Villa and townhouse communities provide a range of amenities on the property, including walking paths, designated places for different sports, and gardens. In freestanding buildings and residences, this is not accessible.
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Rental Market In UAE
The second quarter of 2022 saw a spike in apartment rents of between four and 19% for the inexpensive category and between 16 and 23% overall. There has been a boom in preference for end users to purchase villas and townhouses rather than more compact dwellings like apartments. And the number of properties in Dubai is rising steadily compared to the number of occupants.
But in contrast, younger expats entering the country are showing a preference for smaller apartments instead. Families with growing economic opportunities are also shifting to purchase homes instead of renting.
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