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Dubai’s residential market for villas in prime locations is likely to remain strong during 2012 after seeing a three percent rise in Q1, CB Richard Ellis said on Tuesday.
It said that the residential sector would see area-specific strengthening of rents, sales and occupancy rates as pipeline supply in developed locations becomes increasingly scarce.
The market for established villa locations such as Emirates Living, Arabian Ranches and Palm Jumeirah will remain strong during 2012 with limited new inventory expected, CBRE added in a new report.
However, new supply will enter from emerging areas such as Jumeirah Park, Al Furjan and Jumeirah Golf Estates, which will result in an expanding villa inventory over the next 12 to 15 months.
