16/09/2019
Dubai home sales have performed well, both in terms of volume and value, during June, July and August this year, as investors and end-users took the advantage of price correction and became a property-owner in one of the best cities of the world.
Residential sales transactions posted a 33.46 per cent year-on-year growth as Dubai witnessed 8,833 deals, compared to 6,618 in the corresponding period last year, according to statistics by Data Finder, a data platform under the Property Finder Group. The emirate recorded 8,694 and 7,066 residential deals in similar periods of 2017 and 2016, respectively.
Dubai home sales also hit a 4-year peak in terms of value, as deals worth Dh14.94 billion were recorded in the 2019 summer season, compared to Dh12.58 billion in the same period last year, reflecting an increase of 14.94 per cent. The emirate posted Dh13.25 billion and Dh12.75 billion home sales in 2017 and 2016, respectively.
Analysts and experts said that the property sector has shown solid signs of recovery at an appropriate time when the countdown for the Dubai Expo 2020, a growth driver for the real estate industry, will start next month. They are of the opinion that Dubai continues to attract investors while price correction, attractive bargains and long-term payment options influence several end-users to purchase property in the city.
Source : Khaleej Times
