Dubai: The month-on-month gains are once again showing up in Dubai’s property market, with June’s Dh14.79 billion total being the best since December 2013. More residents are scrambling into the market, not just investors considering that property estimations have fallen to their lowest possible level; any more delay in purchasing could result in more purchasing costs.
In all, the April to end June period delivered Dh36.96 billion in sales and a substantial 33.26% over the Q1, this is analyzed by the figures from Property Finder, the listings portal. During the starting three months of this year, the Dubai real estate sector first saw signs of sustained demand.
In terms of Property Finder, the COVID-19 created situation is actually working in favor of the property market, by being a “growth accelerator”. “Month-on-month increases and record-breaking months for sales transactions; high investment demand from residents and foreign investment; and property prices increasing across prime communities – it has been a dynamic market, to say the least,” said Lynnette Sacchetto, Director of Research and Data at Property Finder.
In the initial months, there have been 27,373 deals worth Dh61.97 billion. In comparison, all of 2020 had 35,041 transactions of a total Dh71.87 billion. This gets the market up nicely to head past the Dh100 billion in deals mark for 2021.