The Value in Vintage: Why Older Villas Are Back in Demand

Join Daniel, Head of Revenue and Performance, and Stephen Catharell, Sales Director, for a fresh round of market insights, a look ahead at the Dubai real estate market and most importantly some banter!

In this episode, they discuss why older properties are suddenly back in fashion, why DIFC needs more residential supply, and whether we might finally see rental prices come down. If you are new to the Dubai real estate market or are looking for your next investment opportunity this episode is for you!

Understanding the Market Dynamics

The core of the conversation delves into the dynamic real estate market in Dubai. Daniel asks Stephen about the current market perception, particularly regarding any slowdown. Stephen is quick to dismiss these concerns, noting that transactions remain strong, with 50 to 70 sales being done this year from his team alone. Despite speculation of a slowdown, the market appears robust, especially with the increasing demand for upgraded units.

The Rise of Upgraded Properties

Both Daniel and Stephen emphasise a shift towards upgraded properties in prime locations like Downtown, Marina, Business Bay, and DIFC. According to Stephen, an upgrade in property not only meets aesthetic demands but also adds value, especially in older developments that are over a decade old. Daniel notes a resurgence of interest in older buildings that offer more space and scope for upgrades.

A Changing Demographic

Since the introduction of initiatives like the Golden Visa, more families are planting roots in Dubai, with a long-term view of their stay. This has spurred a wave of renovations and upgrades, as residents aim to enhance their living spaces. Daniel highlights how these changes have influenced property size preferences, citing newer two-bedroom apartments in Downtown and Marina as significantly larger than their newer counterparts.

The Off-Plan Sector

The off-plan market is another focal point of their discussion. Despite previous concerns about supply and demand in areas like DIFC, significant new projects are in the pipeline, underscoring the off-plan market's vitality. Noteworthy projects such as DIFC Heights are indicative of the high-quality offerings available, catering to the increasing demand for upscale properties.

The Luxury Market and Investment Trends

Conversations about the luxury market underscore the rising interest in ultra-high-end properties. Daniel and Stephen mention Charlie, a member of the sales team who transitioned to focus on the luxury sector. Record transactions in terms of price per square foot and transaction value exemplify the luxury market's resilience and growth potential.

Advice for Potential Buyers

As the podcast draws to a close, Daniel and Stephen share advice for potential buyers. They stress the current market's resilience, with predictions for continued growth and record-breaking months ahead. For those sitting on the fence about high property prices, the duo suggests consulting with mortgage experts to better understand financing options.

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