The Meadows: An Analysis of Property Sales and Trends in May 2023
The Meadows, an integral part of the Emirates Living communities in Dubai, is widely admired for its lush greenery, tranquil environment, and beautifully designed homes. This post will delve into the recent property transactions, pricing trends, and loan-to-value percentages in The Meadows community, offering insight for potential investors and homeowners alike.
About Meadows Dubai
Away from the hustle and bustle of city life, yet in proximity to the mainland areas and amenities, The Meadows is a part of Emirates Living communities by Emaar. This well-established residential address in Dubai is close to the coastline, arterial Sheikh Zayed Road, E11 and the commercial hub of Dubai Marina. As one of the popular golf communities in Dubai, it offers a wide range of villas for rent and sale. The area has also become one of the most popular areas for buying villas in the emirate.
Location and Access
The Meadows community enjoys an advantageous location, enabling residents to have quick access to various hubs in the city, such as Dubai Marina, Internet City, and Jumeirah Lake Towers (JLT). The community is also next to the massive Montgomerie golf course, where residents can enjoy golf over the weekend. Convenient access to the main road network, including SZR E11, further enhances its appeal to residents.
Community Overview
The Meadows community is a sought-after residential villa community in Dubai. It is one of the Emirates Living projects by Emaar. This pet-friendly and family-oriented neighborhood is home to some of the top schools in Dubai. It is also located next to the Address Montgomerie Resort and across nine sub-communities. With its amenities, including swimming pools, parks, sports courts, and lake views, the community offers a tranquil living environment amidst verdant green landscapes.
Transportation and Parking Spaces
Traffic is comparatively not that bad in Meadows, and congestion is rare. Each villa in the community comes with dedicated porches for parking. While there are no metro stations within the community, the Dubai Marina Metro Station and the DMCC Metro Station in JLT are both a 10-minute drive away. However, residents can catch an RTA Bus conveniently. Taxis, while not very common in the area, can be made available upon request.
Amenities, Schools, and Healthcare
Meadows Dubai provides a secure, private, family-friendly environment with vast outdoor spaces promoting healthy outdoor living. Amenities include parks, swimming pools, gyms, restaurants, cafes, and supermarkets. Schools in Meadows include Emirates International School and Dubai British School, two top schools in Dubai. Healthcare needs are taken care of by Mediclinic Meadows, a well-facilitated clinic in the community itself, and Al Garhoud Private Hospital Clinic in Jumeirah Islands, also close by.
Lifestyle and Surroundings
Residents of Meadows Dubai enjoy a unique lifestyle with the community’s shopping and leisure destination, The Meadows Souk. This souk offers many dining options, a good choice of beauty salons, and a popular gym outlet. Although no conventional malls exist in Meadows Dubai, the enormous Mall of the Emirates and City Centre Me’aisem are reachable in under 20 minutes. Despite the absence of beaches within the community, the popular Barasti Beach is less than 10 minutes away. Moreover, the community promotes an outdoor lifestyle with parks and outdoor sports facilities.
Understanding the Loan-to-Value (LTV) Percentages
Loan-to-Value (LTV) percentage assesses the lending risk a financial institution might undertake when issuing a mortgage. It also helps potential buyers understand how much of a property’s cost can be financed and how much must be funded through a down payment. For The Meadows, the LTV stands at 76%, implying buyers can expect to finance up to 76% of their property’s cost. The remaining 24% is paid upfront as a down payment.
Mortgage vs. Cash Transactions in The Meadows Community
Property transactions can typically be classified into two types – mortgage and cash. Understanding the division between these can provide deeper insight into the buying behavior and investment trends in a community.
In The Meadows community, there is an intriguing division between cash transactions and mortgage-financed deals. According to the provided data, 65% of transactions in The Meadows are executed through mortgage financing, with the remaining 35% being cash transactions.
This greater tilt towards mortgages can be seen as a strong indicator of homebuyer and investor confidence in The Meadows’ long-term prospects. Homebuyers opting for mortgage financing usually plan long-term residency, thus reflecting their faith in the community’s enduring value.
On the other hand, cash transactions, making up 35%, are a sign of substantial liquidity in the market. Cash buyers are often investors drawn by the community’s high return potential, underlining The Meadows’ standing as a lucrative investment hub.
As seen in The Meadows, a balanced blend of mortgage and cash transactions indicates a healthy and diverse property market. Such a market provides stability, offering a secure environment for homebuyers planning to settle in the community and investors seeking profitable opportunities.
Property Sales and Transactions in The Meadows Community
Keeping track of property sales and transactions can provide valuable insights into the housing market dynamics within a community. In The Meadows, the property market has shown significant activity and growth.
In recent months, there were 17 property transfers registered at the Dubai Land Department. These transfers are a testament to the active property market within The Meadows community. The highest transfer recorded was a 6-bedroom villa in Meadows 1, which sold for an impressive AED 9,700,000. On the other hand, the lowest transfer recorded was a 3-bedroom property in Meadows 9, which was sold for AED 4,600,000.
The average sales price in The Meadows currently stands at AED 6,573,524, indicating strong demand for properties within the community. The average price per square foot is AED 1,731, further demonstrating the value that buyers see in this upscale community.
For potential buyers, there are several attractive properties currently listed for sale. These include both three and 4-bedroom homes, with some offering additional features such as studies and maid’s quarters. Prices range from AED 6,499,999 to AED 11,999,950, catering to various budget preferences.
In addition to sales, The Meadows has also seen robust rental transactions. The community registered several new contracts over the past six months, with renewals also showing steady numbers. It indicates a healthy rental market with stable demand.
Trailing 6 Months Average Price in The Meadows Community
Analyzing the average property price over the past six months can be extremely helpful in understanding market trends and making informed decisions for both potential buyers and investors.
The Meadows community has seen a noticeable increase in the average price over the past six months. The prices have steadily climbed, reflecting a strong and growing demand for properties in this upscale community.
In December, the average price was AED 6,352,778. That gradually rose over the following months, with minor fluctuations, reaching AED 6,445,000 in January, then to AED 6,601,000 in February. The average price took a slight dip in March to AED 6,322,222 but then started to recover in April with an average price of AED 6,247,917.
By May, the average price reached a six-month high of AED 6,573,524. That represents a significant increase in property value within the community, making it an attractive proposition for potential investors and homeowners alike.
The growth in average property prices within The Meadows is a testament to the community’s enduring appeal. The community is sought-after due to its luxurious homes, extensive amenities, and strategic location, making it a preferred choice for many.
Recently Sold Properties
Several properties were recently sold in The Meadows, including a Type 3, three-bedroom property in Meadows 9 that sold for AED 4,999,950; a Type 9, six-bedroom property in Meadows 1 for AED 9.7 million; and a unique four-bedroom property with a lake view in Meadows 7 that went for AED 6.85 million. These transactions reflect the diversity in property types and their values in the community.
Conclusion
The Meadows affirms its position as a preferred residential community in Dubai, reflected by its strong property transaction activity, a high percentage of mortgage-based purchases, and stable rental contracts. With its tranquil environment, beautiful homes, and solid property value appreciation, The Meadows offers a promising opportunity for potential homeowners and investors alike.