Dubai: There were 3,036 first-time investors in Dubai’s real estate market in the initial two months of this year, a sizeable 62 percent profit on the 2020 numbers. Many of these purchasers could have been drawn by property values continuing to stay under tension.
These and other investments increased the whole inflow to Dh14 billion in January and February, as per the Dubai LAnd Department. While developers claimed back on off-plan launches, purchasers had options like more ready properties to bring their attention to.
Similar profits were shows on the rental side – 96,396 Ejari contracts were registered in these two months, of which 57 percent were new contracts. Seven new projects were recorded during the period.
January’s calculation also reflects gains on home loan-backed deals, with 3,007 such transactions recorded and showing the highest number of home loans in a month.