Dubai: Dubai’s housing market witnessed transactions costing Dh6.74 billion in January 2021 – which is up 37 percent from the same period the previous year, as per the sales costs index launched by the Dubai Land Department (DLD).
“The index data shows that Dubai’s real estate market continues its upwards trend – this is due to the proactive measures and incentive packages launched by the Dubai Government to address the effects and consequences of the outbreak of COVID-19,” the regulator said in a statement.
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The trend in the whole of 2020 was that secondary or built properties started dealing more, and this trend has proceeded into this new year.
DLD noticed that 72 percent of all exchanges in January 2021 were for optional or prepared properties, and 28 percent were for off-plan properties.
Regarding the volume of exchanges, the optional market executed 2,373 properties worth an aggregate of Dh5.43 billion – this is the most elevated in a solitary month since March 2014.
Regarding the sales deals, 70 percent were apartments and 30 percent were villas or townhouses.
The final quarter of 2020 was the “most grounded” quarter of the year with more than 11,000 exchanges worth Dh22.07 billion.
“This quarter kept the momentum going for the year to start strong, and we are most likely going to see this going forward into February, where we have already seen more than AED 3.3 billion in sales transactions in the first week,” said the statement.