Town Square surpasses the top performing areas in Dubai
Summers have brought about great fortunes for Dubai’s premier sub-urban community Town Square Dubai. The articulated master planned infrastructure has caught the attention of residents not only within Dubai but from other Emirates as well. Property Monitor – a leading data and research analytics platform has recorded a significant increase in July and August, 2020 when it comes to residential transactions for sale and rent in Town Square Dubai, where the community has jumped from rank 17 last year to number one spot this month by recoding whooping 195 transactions in a month.
The second place is acquired by Dubai Marina followed by Jumeirah Village Circle with 98 and 58 transactions respectively according to Property Monitor. The figures clearly depict the hike in ready property demand with rentals transacting more than ever before, and sales transaction helped due to various supporting factors.
This huge surge in demand of housing resonates the increasing requirement of affordable housing schemes with appropriate pricing strategy clubbed with great amenities that has topped Town Square Dubai on the charts. Experts predict that this position is most likely to sustain on long term as
there is no community that comes any close to this exuberant community that offers upscale modern lifestyle amenities at a value that is almost impossible to believe. The community offers apartments and townhouses that start as low AED 30,000 per year for 1 bedroom, AED 45,000 for 2 bedroom and AED 60,000 for 3 bedroom apartments. And when it comes to sale, there is surely no master community that can beat the pricing of Town Square Dubai where 1 bedrooms are available for sale from AED 450,000 and 2 bedroom starting from AED 630,000 with 3 bedroom for as low as AED 890,000 with mortgage assistance available from leading UAE banks.
The increase in LTV from 75% to 85% is an additional plus that has attracted mid-level socioeconomic demographics instantly because the down payment required in this scenario is only 15% which can still be arranged as compared to previous 25%. And with more units setting on the verge of handover within this master community, the demand is sure to continue in near future and in the long run.
