Dubai: Property deals in Dubai during the current year’s Ramadan weeks went to a significant Dh9.99 billion – an all-time high in what is regularly a quiet period for the nearby real estate market. The most elevated esteemed deal was a Palm estate, which was purchased for Dh105 million.
Between mid-April to the Eid break, there were 4,804 deals amounting to this close to Dh10 billion mark, as per information from Property Finder.“We can see this year the record-breaking trends since the ease in lockdown continued during Ramadan,” said Lynnette Sacchetto, Director of Research & Data.
The past most noteworthy Ramadan transaction count was in 2015, with 3,870. Since then, the average during the Holy Month has been in the 2,500 arrangements range. However, a year ago saw that dip to 1,543 deals, which agreed with the COVID-19 lockdown stage.
Buy secondary
More property deals in Dubai are beginning to occur in the secondary market, with investors homing in on prepared units. Strangely, even on prepared homes, developers are more than able to broaden installment plans past five years. For example, at the Akoya community, homes are being advertised with 10-year installment plans and at no interest.