Time to buy? Dubai to face shortage of villas, townhouses: Experts

Time to buy? Dubai to face shortage of villas, townhouses: Experts

Dubai will see a shortage of villas and townhouses in the next three years as most new property launches are focused on residential towers, according to real estate industry executives.

Safura Abasniya, CEO, Aston Pearl Real Estate Broker, said there have been a number of new property launches, but only one in 10 are villas and townhouses.

“We have new property launches almost every three days, and 90 per cent are apartments. In three years from now on, Dubai will face a massive shortage of villas and townhouses and there will be strong demand for them", Abasniya added.

“[With] the number of expats coming to Dubai and migrating their businesses here, I’m very positive that there could be undersupply, but not oversupply,” she said during a panel discussion at the Cityscape Dubai 2022, which will conclude on Wednesday.

The villas and townhouses market in the emirate suffered from 2015 to 2019, but demand has been exceptionally strong in the past two years, driven by the change in the lifestyle of residents after the outbreak of the pandemic, along with the migration of high net-worth individuals into the country.

In fact, demand and prices for villas and townhouses has been growing faster than the apartment segment