Prices of villas in the popular Arabian Ranches community by Emaar have seen an appreciation of 15 per cent in the past one year, according to a leading real estate brokerage company in the UAE.
“Prices have appreciated by 15 per cent in the Ranches. A five-bedroom villa that was selling at Dh4 million is now going for Dh4.5-4.7 million.
"There has also been a 15 per cent increase in the townhouse segment of the Ranches,” Rene D’Souza, Senior Residential Consultant, Green Community Office, Better Homes told Emirates 24|7.
Sale price for villas in Dubai fared positively, rising by 4 per cent on average in the first quarter of this year compared to the last quarter of 2011, as per the data from Asteco.
Arabian Ranches fared much better than the average rate, with an appreciation of 7 per cent. “The rise is predominantly driven by increased acquisitions from owner-occupiers in areas such as Arabian Ranches,” read the Q1 2012 report.
The price of the villa can go up with the location.
The villas with a pool and park or lake view can fetch a premium.
“Real Estate is all about location. Within a community, properties with a pool/park or lake facing commands at least 5-10 per cent more than the same unit without the key view or location. Properties that lie near the Emirates Road have trouble selling due to the location,” added the Better Homes expert.
According to classifieds, a two-bedroom villa of approximate size of 1889 sq/ft, is priced at Dh1.65million, making it Dh873 sq/ft.
A similar villa was going for approximately Dh1.4million in Q2 2011 and the year before a similar unit was available only for a little over Dh1million.
“We’ve been thinking of buying a small villa in the Ranches for our own use. I guess we’ve taken a long time to decide and will have to pay more if we go for a place here. The agents tell me that prices will appreciate more this year and will add up if I delay my decision,” said Anjali Dube, an Indian expat in Dubai.
Arabian Ranches prices vary owing to the villa type and size.
Townhouses offer the cheapest option here where as the highest range is occupied by bespoke mansion like villas that sit on large plots.