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February records the highest number of ready property transactions in seven years
According to the latest Property Finder data, February recorded the highest number of ready property transactions in seven years.
Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle were all top areas of interest for apartments during the same month.
Among the most popular villa/townhouse communities are Dubailand, Arabian Ranches, Dubai Hills Estate, and others.
If looking to buy or sell your Dubai property, feel free to contact us on +971 4 518 7555 to get expert real estate advice.
In February, 68 percent of all transactions were for secondary/ready properties and 32 percent were for off-plan properties.
In terms of the volume of transactions, the off-plan market transacted 1,163 properties worth a total of AED 1.61 billion and the secondary market transacted 2,650 properties worth a total of AED 5.82 billion. In comparison to January 2021, the number of off-plan transactions in February increased by 35.8 percent and the secondary/ready property transactions increased by 8.2 percent.
“Since restrictions have eased and as we moved into a new year, we started to see developers launch new phases to existing projects which are under construction. These new launches, especially in the villa/townhouse segment, proved to be very popular with investors over the last few months,” explained Abad.
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Source: Arabian Business Global