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FINANCIAL NEWS
Dubai’s Springs community posts 25-30% rise in Oct villa prices
26 Oct 2012
(MENAFN) PropSquare Real Estate, a Dubai-based real estate agency, revealed that in October, villa prices in the Springs community jumped between 25 and 30 percent from a year ago, reported Emirates 24/7.
In the period, prices of 2-bedroom villas grew to USD435,500, up from USD340,234 a year ago, whereas prices of 3-bedroom villas rose to USD653,250 from USD476,328.
The agency said that prices of 2-bedroom villas went up by 10 percent in the third quarter to USD435,500 compared with USD394,672 in the second quarter, whereas prices of 3-beddrom villas grew 9 percent, from USD598,812 to USD653,250.
The Springs consists of townhouses built around man-made lakes, with properties ranging from 2-bedroom to 4-bedroom townhouses and are located close to The Greens and The Meadows.
It is worth noting that the average listed price for two bed units is USD435,500, whereas in 2011, prices were hovering between USD326,625 and USD340,234, according to properfinder.ae.
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