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Hamptons' property sales up 19% last month

Firm says sales and rentals highest in community schemes like JLT, JBR

NEWS, Business, Dubai, Hamptons, Real estate trends

Property agency Hamptons MENA said the sustained growth which occurred in the second half of 2012 has carried over into 2013, with the number of property sales it carried out increasing by 19%.

The firm said that demand came from 'lifestyle communities' venues such as JLT, JBR, Dubai Marina, Downtown Dubai, Emirates Living and Arabian Ranches, among others.

Niraj Masand, head of operations of Hamptons MENA, said: “The property sector dynamic of Dubai has opened on a strong note this year, with robust sales and rental demand in the established communities. In addition to demand for upcoming properties, the market is witnessing demand for end-user homes.

“Simultaneously, there is growing demand for rental properties too in New Dubai area, drawing on the lifestyle amenities offered by the communities. We expect the positive trend to continue through the coming months."

The firm said that customer feedback suggested that proximity to leisure and entertainment facilities, as well as Dubai's Metro, were key selling points.

“Alongside the growth in demand, there is also a positive growth in supply with several leading developers launching new projects as part of their already developed communities," added Masand.

"Despite new supply coming online, price levels are on an upward trend, demonstrating strong end-user demand.”

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Construction Week - Issue 745
Jun 30, 2019