KHALEEJ TIMES, Monday, Aug 17, 2020 | Zul Hijjah 27, 1441
Pandemic spurs demand for spacious dwelling units
Emirates:
The pandemic outbreak and the ensuing lockdown have started to influence
lifestyle changes and real estate preferences, with buyers increasingly
looking for spacious apartments or detached houses with gardens.
The trend is most discernible in cosmopolitan cities across the world, in
particular Dubai, say property experts. Even as more businesses are now
functioning out of home-based offices due to self-isolation guidelines, home
hunters are looking for large apartments with an extra room to serve as a home
office.
Research and data from Property Finder said the trend for spacious dwelling
units gaining traction after the lockdown. There is an increase in searches for
properties with outside space such as gardens, balconies and pools - a clear
indication that people are now valuing personal, outside space in their home
life.
In the UAE, upscale residential, hospitality and commercial property developer
Seven Tides has reported a surge in demand for its two and three-bedroom
apartments at its Seven Palm development on Palm Jumeirah.
Abdulla bin Sulayem, CEO of Seven Tides, said that the lockdown experience has
made many residents re-evaluate exactly what they want from a living space,
whether that is for a short leisure break or a longer-term residential lease,
especially those with small children.
According to property analysts, while micro-apartments were supposed to be the
wave of the future, with the outbreak of Covid-19 city dwellers, who have been
cooped up in one or two rooms, will be increasingly looking to spread out.
"Indeed, the craving for larger apartments is coming back into style and many
will be looking to size up - whether sizing up in square footage, light, outdoor
space, view, or amenities," said A. Najeeb a real estate consultant.
"Obviously, for those who can afford, townhouse living is more preferable than
even large apartments because you don't have the same issues you have in an
apartment building such as sharing an elevator, not having access to your gym,
and you have private outdoor space," he said.
Balconies, terraces and private roof decks are becoming sought-after amenities
for prospective buyers, and in the coming months such properties will become
more in demand among UAE buyers.
The Seven Tides CEO said Seven Palm should tick all of the boxes to match this
trend, with spacious layouts complemented by floor-to-ceiling windows which
maximize natural light and additional balcony space of up to 150sqft, not to
mention spectacular views.
"Add to that a host of amenities, including a rooftop swimming pool, fully
equipped gymnasium, beach access, lush landscaped gardens and an array of
restaurants," Sulayem said.
He said to encourage potential investors that fit this profile, Seven Tides has
decided to launch a special summer promotion, specifically for its two and
three-bedroom apartments, for which buyers can save up to as much as Dh 177,000,
which is valid until the end of August. More than 43 different nationalities
have invested in the property over the past seven months with Central Asians
accounting for 32 per cent of sales, Europeans 27 per cent, Russians 17 per cent
and Arab nationals 11 per cent.
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