Dubai, United Arab Emirates is seeing a shift for foreign buyers and renters searching for villas in Dubai. Foreign investors and locals alike are browsing in demand for spacious villas in Dubai. The high demand for villas for sale Dubai are causing rent prices to surge up to by 66%. Compared to apartments in Dubai, prices jumped up by 29%.
Just as how inflation works, if demand is higher than supply, then it causes the price of goods to increase. Well in Dubai’s red hot property market, the demand for spacious villas are outstripping supply for villas in Dubai.
Why Demand of Villas in Dubai Are High
The first cause is because of the pandemic. The trend of seeking larger villas to buy in Dubai with private gardens, balconies, and pools is for health and safety. The trend is a sustainable demand especially from foreign investors. Top foreign investors nationalist in Dubai are from: India, United Kingdom, Italy, Russia, and China.
Secondly, buyers or renters are seeking more for a community and family-friendly society, than a crowded city lifestyle. As a family-friendly community aligned with buyers and renters priorities of health, family, wellness in Dubai, and a home.
Villa for sale in Dubai
Lastly, it is by the government’s forward-thinking and economic reforms to amend the Golden Visa rule. The Golden Visa rule makes it easier for foreigners to set up business in one of the world’s leading financial hubs. Ease of setting up businesses, travel, and speed for recovery from the pandemic, boost investors confidence in the country.