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There is a good amount of stock in the market for midrange and high-end villas in Dubai. This will further increase with new project launches announced in the fourth quarter by Emaar, such as the Palma and Rosa developments, which comprise 265 villas as part of the Arabian Ranches extension.
Most of the mid-range and high-end villa projects that will be completed this year are located in Dubailand communities such as Arabian Ranches and Jumeirah Park. Although this market segment is expected to continue to grow in number, rising rental rates and sales prices, in combination with growing demand, are likely to exclude some mid income tenants and homeowners, especially in the short to medium term.
In Abu Dhabi, mid-range and high-end villas have experienced an increase in both rental and capital values since last year, presenting a gap in the market for good-quality villa developments. To date, there is only a limited number of completed high-end villas offered to all nationalities on a freehold basis. These include Saadiyat Beach Villas, as well as various town houses and villa units at Al Zeina and Al Muneera.
Standard units at Saadiyat Beach Villas have witnessed good absorption levels from buyers of all nationalities, highlighting the demand in this market. Al Raha Gardens is the strongest performer in the capital's mid-range villa segment, as it now offers good-quality amenities and a community lifestyle following the completion of its retail facilities.
However, these villas are only offered for sale to UAE nationals, although they are popular with both tenants and owner-occupiers.
Source: Property Weekly, gulfnews.com