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Sharp improvement in Dubai’s real estate transactions

Business Dubai 03 Feb 21
Sharp improvement in Dubai’s real estate transactions
Demand for ready homes increase in Dubai real estate. November and December saw demand for completed homes at 7-year highs.
Fee
Event Location
Dubai , Dubai
Area
Dubai
Start Time
03 February 2021, 12:00 AM
End Time
28 February 2021, 12:00 AM
Website

Sharp improvement in sales in recent months boosted Dubai’s real estate transactions to total Dh72.47 billion from 35,400 deals (as compared to 41,000 plus in 2019).

According to Dubai Land Department, December itself pushed the tally by Dh7.5 billion from 3,751 deals, indicating that the property market was able to get back quite a bit of momentum after the pandemic attack.

November and December both set seven-year highs for secondary or ready market sales. While December saw 2,579 such transactions worth Dh6.22 billion, which was 9.7 per cent more than November.

Latifa Ibrahim Ahmed, Director of Real Estate Studies & Research at Dubai Land Department said, “These numbers will be a launchpad for the market in 2021, and we are certain that it will gain more momentum due to the gradual opening of global markets and the approach of Expo 2020 Dubai.”


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