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Abu Dhabi's residential property rental, sales 'normal' in 2020 ABU DHABI, January 27, 2021 Abu Dhabi's 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 and sales for the capital city, they remained quite normal, it stated.    "2020 was quite inte...

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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 Dubai's 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 cent of the total value transacted last year, or Dh52.18bn through 20,685 deals. Off-plan properties a...