Prices for Dubai villas soar 25%

12/10/2011 - Dubai Property News Posted by Neil King
Prices for Dubai villas soar 25%

Property investors in Dubai will be pleased to hear that the price of two and three-bedroom villas in The Springs area have increased by as much as 25 per cent since January.Figures from real estate agents, seen by Emirates 24/7, show that properties in the luxury area are going for as much as Dh1.75 million.This, the news provider states, is down to the lack of supply of Dubai property that is driving up prices.Property demand is also increasing in The Greens and The Meadows in Dubai.Michael Burke of Arabian Escapes told the website: "The Springs and Meadows are highly liquid and a safe and easy place for individuals to parks their funds, with good returns and ease of re-sale."He added that the trend will continue into the first and second quarter of 2012 and then start to level out.Cluttons published a report this week that hinted at demand for properties in Dubai will increase after the International Monetary Fund predicted GDP growth of 3.3 per cent in Dubai, rising to 3.8 per cent next year.