Sales of Villas at Jebel Ali Village
Jebel Ali Village - Villa Sales and Market Review
Author: Gareth Davies- Award Winning RERA Broker and Property Consultant
Overall, the number of enquiries from potential buyers has increased during August and September. This has resulted in five of the seven sales achieved since handover transferring since 10th August. This points towards a strengthening market.
It should be noted that buyers have been selective with most of the villas sold having plots adjoining community parks and/or the central valley. Less favourably positioned villas cannot simply be valued using the highest community-wide AED per square foot figures. As transaction volumes increase, genuinely comparable recent sales will become increasingly important when establishing realistic asking prices for the different villa types and the various locations such as those in elevated plots overlooking the community or those adjoining community parks or pools.
Data Source: Property Monitor
The chart shown above shows the average listing price and average sold price in terms or Dirhams per square foot of built-up area (BUA). The data included the sales of townhouses and villas. The effect of the geo-political conflict can be clearly seen when comparing Quarter 1 and Quarter 2. Handovers of villas and townhouses and general confidence among buyers increased during the summer months and has resulted in a 5.6% increase during Q2 and the first few weeks of September.
Data Source: Property Monitor
There were no transfers of villas during April, May and June. Gradually the asking prices/listing prices of villas were reviewed to take into account the different market conditions that have prevailed since February. The majority of villa sales have been on plots which have parks/pools adjoining the back boundary.
Type G (4 Bedrooms and Maid’s Room) sold at AED 7,500,000.
Type E (4-Bedrooms and Maid’s Room) villa sold at AED 8,200,000.
Thinking of Selling Your Villa?
Buyers are actively searching for homes in Jebel Ali Village. Get expert guidance from Gareth Davies - winner of the Property Monitor Client Transparency Award 2023 - and the senior member of the specialized 4-broker team at Dacha Real Estate. Established in 2004, Dacha brings over two decades of local expertise and notable accolades from Bayut and Property Finder, including Agency of the Year (SME) at the Bayut Awards.
