Hamptons MENA records 19% growth in property sales transactions in January

Continuing the trend that was reported in 2012 of demand for property in established communities dominating the real estate landscape, Hamptons MENA recorded robust sales growth in integrated lifestyle communities such as Jumeirah Lake Towers, Jumeirah Beach Residence, Downtown Dubai, Emirates Living, Arabian Ranches and Dubai Marina, among others.

Niraj Masand, Head of Operations of Hamptons MENA, said: "The property sector dynamic of Dubai has opened on a strong note this year, with robust sales and rental demand in the established communities. In addition to demand for upcoming properties, the market is witnessing demand for end-user homes. Simultaneously, there is growing demand for rental properties too in New Dubai area, drawing on the lifestyle amenities offered by the communities. We expect the positive trend to continue through the coming months, especially with Dubai recording impressive growth in its core sectors of tourism, trade, retail and hospitality."

He added: "Alongside the growth in demand, there is also a positive growth in supply with several leading developers launching new projects as part of their already developed communities. Despite new supply coming online, price levels are on an upward trend, demonstrating strong end-user demand."

According to customer feedback, their preference for new property and for rentals is led by the proximity to leisure and entertainment amenities and educational institutions, the overall lifestyle quotient, and accessibility, which has been greatly enhanced with the Dubai Metro.

Hamptons had reported strong customer interest both in buying and leasing activity in the established neighbourhoods in Dubai during 2012. The company offers the full spectrum of property services including residential and commercial property sales, residential and commercial leasing and property management, international property sales, valuations, research and feasibility studies.