Dubai property market sees continued growth

The Dubai property market has seen its busiest month in eight years, as patrons continued to snap up villas and flats in June, the most recent knowledge reveals.

A complete of 6,388 offers price DHR14.79 billion ($4 billion) had been made in Dubai in June, the very best since December 2013, Property Finder mentioned in a report on Tuesday.

Transactions for the month had been up by 44 per cent in comparison with May by way of quantity and up 33.2 per cent by way of worth. 

Total offers for the second quarter of the 12 months reached 15,638, with a mixed worth of DHR36.86 billion, bringing the year-to-date whole to 27,373 transactions price DHR61.97 billion.

Demand for houses within the United Arab Emirates has been rising since Covid-19 restrictions eased final 12 months, as patrons reap the benefits of record-low pricing and rates of interest, and beneficial loan-to-value ratios. 

Buying exercise, nevertheless, remains to be concentrated within the secondary market, representing 61.5 per cent of the property offers in June alone.

Off-plan property accounted for 38.5 per cent of the transactions. 

For house patrons, Meydan was the favored selection, representing 15 per cent of the gross sales, adopted by Jumeirah Lakes Towers (9.3 per cent), Dubai Marina (eight per cent), Business Bay (6.8 per cent), Downtown Dubai (6.6 per cent), Mohammed Bin Rashid City (6.3 per cent), Jumeirah Village Circle (5.4 per cent), Palm Jumeirah (3.9 per cent), Jumeirah Beach (three per cent) and Dubai Harbour (three per cent).

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