Dubai’s Incredible Q1 realty prices lure first-timers

A total of 6,590 real estate transactions in Dubai were recorded in March 2021, valued at about Dhs22.9 billion, according to the real estate bulletin issued by Dubai Land Department (DLD) under the name ‘Real Estate Updates.’

The bulletin highlighted continued attractiveness of the real estate sector to new investors, as 5,683 new investors entered the market in Q1 2021, representing 64 percent of the total number of investors during the same period. The aforementioned figures revealed the continuity of achieving positive results in 2021, thereby continuing to enhance the trust of local and international investors in Dubai’s attractive and vibrant real estate environment.

Meanwhile, Allsopp & Allsopp's Real Estate Q1 property market report shows an 82 per cent increase in sales transactions and a 237 per cent increase in tenants paying their rent in multiple cheques since Q1 2019.

“The first quarter of 2021 has been incredible for the Dubai real estate market as a whole. Buyers are jumping at the chance to purchase a home while they still can with the city coming out of lockdown so quickly on the back of investment in vaccines and testing," the report said.