Dubai’s ready properties deals hit a three-year high in February, as more buyers snapped up ready units, the latest official data provided.
Deals in the secondary market made up the greatest lump (67%) of the complete 3,787 transactions recorded for the month, esteemed at roughly 7.43 billion ($2 billion), as indicated by Mo’asher, Dubai’s official sales price index delivered on Sunday.
“February now holds the record for the most secondary/ ready property sales transactions in a single month over the past three years,” said the Dubai Land Department (DLD), which produced the index in cooperation with Property Finder.
The deals for February were 13.8 percent more than in January 2021 in relation to volume and 8.9 percent in terms of value.
“Dubai’s real estate market continues its upward trend. After a slight dip in January, the index numbers are back on the rise,” the statement said.
Deals activity in Dubai began to get after the COVID-19 limitations facilitated a year ago, with a large number of the buyers attracted to low deal costs and ready-to-move-in units.
Popular locations
As per Data Finder, the information platform under the Property Finder Group, villas and townhouses in And Al Sheba bagged the greatest share of the deals, at 10.3 percent, trailed by Dubai Hills Estate (8.3 percent), Green Community (8%), Arabian Ranches (4.7 percent) and Dubailand (4%).
Inside the apartment classification, 14.9 percent of all business transactions occurred in Business Bay, trailed by Dubai Marina (9%), Jumeirah Village Circle (8%), Downtown Dubai (6.5 percent), and Palm Jumeirah (6.2 percent).