Real estate company Hamptons has reported 19 per cent growth in its January sales over the same period last year, underlining the increased growth and positive sentiment in the emirate.
Hamptons MENA recorded improved sales in the established and typically popular communities such as Downtown Dubai, Dubai Marina, Jumeirah Lake Towers, Jumeirah Beach Residence and Arabian Ranches.
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, especially with Dubai recording impressive growth in its core sectors of tourism, trade, retail and hospitality.”
According to its research, Hamptons found that buyers prioritised factors such as location to leisure and entertainment facilities, schools and accessibility when choosing their properties.
“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,” Masand added.
“Despite new supply coming online, price levels are on an upward trend, demonstrating strong end-user demand.”