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Khaleej Times
3 days ago
- Business
- Khaleej Times
Dubai: Villa, townhouse prices more than double due to influx of families, millionaires
Villa and townhouse prices in some of Dubai's localities have jumped over 200 per cent in three years due to sustained demand amidst limited supply, large influx of families and inflow of millionaires into the emirate. According to data shared by Allsopp & Allsopp, Al Waha and Nad Al Sheba have seen average prices of villas and townhouses jumping 265 per cent and 207 per cent, respectively, between April 2022 and May 2025. Data showed that the average prices in Al Waha rose from Dh1.2 million to Dh4.4 million and from Dh3.07 million to Dh9.44 million in Nad Al Sheba during the comparative period. Among the other top-performing communities, prices of villas and townhouses in Dubai South Residential District and Dubai Investment Park have jumped 185 per cent in both communities from Dh1.4 million to Dh4 million and from Dh2.17 million to Dh6.19 million, respectively. Similarly, Al Quoz, Jumeirah Islands, Dubai Sports City, Emaar South and Al Satwa have seen average villa and townhouse prices doubling since May 2022, rising between 121 per cent and 176 per cent. 'This is a clear indicator of sustained demand, limited supply, and growing investor confidence in villa and townhouse communities in Dubai. A shift in buyer preference towards larger, more private living spaces has driven prices up significantly, underscored by a growth in population and more people wanting to enter homeownership on arrival in Dubai,' said Lewis Allsopp, chairman of Allsopp & Allsopp. Demand for larger units, especially villas and townhouses, has been on the rise since Covid-19. The lockdown during the pandemic prompted many people in the UAE to look to larger properties, pushing demand higher for villas. He said the influx of families moving to Dubai has been a key driver in the rising demand for villas and townhouses. 'With a focus on space, privacy, and access to top-tier amenities and schools, family buyers are increasingly favouring suburban communities. This demand shift is putting upward pressure on prices, particularly in established and well-connected residential areas,' said Allsopp. Allsopp and Allsopp's chief said data primarily showed that those buying villas and townhouses are residents, both long-term expatriates and new arrivals looking to settle and own homes rather than rent, although high-net-worth foreign investors who are active in the luxury segment see the value in investing in the Dubai luxury market.
Yahoo
19-06-2025
- Business
- Yahoo
'It's Been On The Market 157 Days...Only Four People Have Looked At It'— Florida Sellers Struggle In Once-Booming Destination: 'An Effing Mess'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. If you thought Florida's housing market was still a seller's paradise, talk to someone in Cape Coral or Fort Myers. They'll tell you it's more like a waiting game—one with high insurance premiums, slow foot traffic, and a not-so-sunny forecast. "It makes me wonder, is it ever gonna happen?" said Darleen Strange, whose mother's Fort Myers home has been sitting on the market since November. "It's been on the market right at about 157 days. We've only had four people come look at it." Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – That wasn't in a random Facebook group—Strange shared her frustration with WINK-TV. And she's far from alone. Realtor Angie Ramos echoed the slowdown: "We're seeing a lot of price reductions. Things are selling, but not as quickly as one would want." Southwest Florida, once a post-pandemic boomtown, is cooling fast. According to Construction Coverage, which analyzed Redfin data across midsize cities, Cape Coral ranked 123rd out of 123 in its list of the hottest real estate markets of 2025 — dead last. According to Redfin, there are over 238,000 homes currently on the market statewide. Florida has been building more housing than most other states, and with inventory piling up, buyers are starting to regain some bargaining power. "I thought that it would go pretty quickly, because it's a beautiful home, beautiful location, beautiful view," Bonita Springs seller Tom Pomanti told WINK in April. He originally listed it for $850,000, but after cutting the price to $729,000, he's still had no bites. Trending: Invest Where It Hurts — And Help Millions Heal: On Reddit, longtime locals are getting blunt. "There's roughly 4,000 houses for sale in Cape Coral right now. The market is definitely flat," one user wrote. "It's an effing mess." They point to insurance hikes, high mortgage rates, and hurricane damage as dealbreakers. One Redditor said their homeowner's insurance jumped from $6,100 to $7,300—and flood insurance tacked on another $8,400. "Just paid the home off so I'm considering dropping flood," they wrote. The home only had two inches of water during Ian, but the stress is stacking. Another local posted a timeline breaking down the chaos: inventory doubled since 2022, demand plunged after Hurricane Ian, and now sellers are listing storm-repaired homes just to get out. "Prices are down 10–20% from 2023 depending on the property... but many are holding out for further $ drops and/or rate decreases," the user wrote. One Redditor living in Fort Myers summed it up: "We have no city water or sewerage (2029 now with a $30K connection charge)... Canadians are selling up and leaving their US winter houses apparently... people who were born and raised here can't afford to live here anymore." , While other parts of the country—like the Midwest and Northeast—are still seeing bidding wars and price hikes, Florida's sunshine state of real estate has turned stormy. For homeowners like Strange, the urgency is personal. She needs to sell to help fund her mother's assisted living. "If something doesn't happen within the next year, it would be a scary situation," she said. Scary's one word for it. For now, sellers are watching their listings sit, hoping someone still believes in the Florida dream. Read Next: With Point, you can 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can Image: Shutterstock This article 'It's Been On The Market 157 Days…Only Four People Have Looked At It'— Florida Sellers Struggle In Once-Booming Destination: 'An Effing Mess' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
19-05-2025
- Business
- CTV News
FRAPRU plans week of protests over housing crisis
A building with 'For Rent' and 'For Sale' signs in Montreal, Oct. 1, 2024. (The Canadian Press/Christinne Muschi)
