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Abu Dhabis residential property rental, sales normal in 2020 ABU DHABI, January 27, 2021 Abu Dhabis residential property market too witnessed a turbulent 2020 as other global markets. It slightly declined during the peak of the Covid-19 pandemic but normalised fairly quickly bringing stability to the industry, according to Property Finder, a leading property portal in the UAE.    It was a turbulent year in 2020 for all real estate markets but as far as asking prices in both the rental an...

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The top three areas in terms of sales volume were MBR City, Downtown Dubai, and Palm Jumeirah

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Over the course of last year, the emirate registered 35,434 property sales transactions worth Dh72.49bn, compared with 40,132 transactions worth Dh80.99bn in 2019. A higher committee for real estate led by Dubais Deputy Ruler Sheikh Maktoum bin Mohammed was established in September 2019 to rebalance a market where concerns of oversupply have pushed prices lower in recent years. However, secondary/ready properties have seen a resurgence in demand. Deals for completed homes represented 72 per cen...

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Strong sales performance in Q4 paves way for a solid start in 2021 as investors are back in the market

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Secondary home sales spur Dubai realty’s V-shaped recovery The secondary property sales in November were the highest in the past six years and seven months. — Wam Pent-up demand leads to 3,928 property transactions worth Dh7.65 billion in Dubai in November, the highest in 9 months. The property market in Dubai has started to gain momentum --- inversely to the global trends --- with the realty landscape showing signs of a V-shaped recovery. There is an unexpected surge in demand in the seco...

Prime and central locations such as The Springs, Dubai Marina, Jumeirah Lakes Towers and Arabian Ranches are also seeing an increase in demand as people, who were earlier priced out of these communities, now find them affordable. Dubai’s real estate market slowed after a drop in oil prices that began in 2014, in tandem with an oversupply in the market as projects are completed. JLL’s third quarter UAE Real Estate Market report said about 26,000 new homes were scheduled for completion in the...