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Huge surge in demand for Dubai villas as residents upgrade amid pandemic:

Demand for ready to move in villas and townhouses in Dubai has witnessed a growth of over 500 percent since May this year as residents choose to upgrade their living situations, according to Ari Kesisoglu, president of Property Finder.

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That month, the market witnessed the highest sale of secondary villas and townhouses recorded in the history of the UAE since the property market opened up to non-GCC nationals.

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October recorded a 57.1 percent increase in property sale transactions and a 70.4 percent increase in the value of transactions on the previous month.

Kesisoglu said: “Each month has witnessed record-breaking numbers, and that speaks for itself – people are investing in the market, and the majority of sales are for ready-to-move-in-units, which implies that a lot of residents are upgrading their living situations, despite the current environment.”

He added that 665 secondary or ready-to-move-in villas and townhouses were transferred in October, a 7.2 percent increase on the second-highest month, September, at 605 transactions and 34 percent higher than the third-highest month ever, July, which recorded 496 transactions.

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