Dubai realty set to stage a rebound this year
Strong sales performance in Q4 paves way for a solid start in 2021 as investors are back in the market
Dubai real estate looks set to stage a strong rebound this year following solid performance in fourth quarter of 2020 due to the government’s policy initiatives and stimulus to restore the investor confidence in the economy, experts say.
Referring to latest data released by the Property Finder group, analysts and industry stakeholders said Dubai property market experienced a brisk activity during the October-December 2020 quarter as the investors are back in the market.
Dubai property market posted sales worth Dh22.07 billion through 11,065 transactions during the fourth quarter of 2020 as against Dh24.11 billion sales through 12,377deals in the same quarter last year.
After a slow start in first quarter of 2020, the market sustained an upward trend in sales activity as it recorded Dh10.8 billion and Dh18.23 billion sales in second and third quarters, respectively, through 5,521 and 8,867 transactions in April-June quarter and July-September quarter last year.
Latest monthly data for December indicates that sales worth Dh6.12 billion recorded through 2,485 secondary and ready transactions, reflecting a growth of 9.7 per cent over November 2020. The last few months in 2020 have been outstanding for the secondary market with November and December both breaking the secondary/ready market transactions records for the past seven years.