Springs villa prices up 25% seen as 'safe haven' in Dubai property market

Asking prices for two- and three-bedroom villas in the Springs community have shot up by as much as 25 per cent since the beginning of the year to date, according to real estate agents.
Data shared by PropSquare Real Estate, a realty agency, points to a massive jump of 25 per cent in prices of two-bedroom (type 4M) villas from Dh1 million to Dh1.25 million, while three-bed (type 3M) villas are currently on sale for Dh1.75m compared to Dh1.4m.
“We have seen most of the transactions happening in Springs,” believes Faisal Baig, Director, Propsquare.
According to properfinder.ae, average listed price for two bed units increased by nine per cent to Dh1.2m from Dh1.1m.
Prices for three-bed units jumped by 18 per cent to Dh2m from Dh1.7m, while four-bedroom villas were offered for sale at Dh3m compared to Dh2.6m.
Michael Burke of Arabian Escapes says limited supply of affordable villas in Dubai has led to the price increa
“Banks are comfortable to lend 80 per cent on these villas. The Springs and Meadows are highly liquid and a safe and easy place for individuals to parks their funds, with good returns and ease of re-sale. This trend will most likely continue into the first and second quarter of next year, before leveling out.”
Michael Michael of Landmark Properties believes prices have stabilised in specific types of Springs villas in specific locations (Springs 1–4).
“This is due to lack of availability of the ‘best units’ in the market,” he adds.
Last month, Jones Lang LaSalle said villa prices in Dubai rose five per cent in the third quarter due to limited supply, while average asking prices increased from Dh9,840 per square metre to Dh10,335 per square metre in the third quarter, the real estate consultancy expects villa prices will hold better in short to medium term.
The Springs comprises townhouses built around man-made lakes. Properties here range from two-bedroom to four-bedroom townhouses and are located close to The Greens and The Meadows.

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This release was published on openPR.