Dubai property market sees continued progress | Information

Dubai property market sees continued growth | News

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

A complete of 6,388 offers value DHR14.79 billion ($four billion) have been made in Dubai in June, the best since December 2013, Property Finder stated in a report on Tuesday.

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

Whole 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 complete to 27,373 transactions value DHR61.97 billion.

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

Shopping for 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 residence consumers, Meydan was the favored alternative, representing 15 per cent of the gross sales, adopted by Jumeirah Lakes Towers (9.Three per cent), Dubai Marina (eight per cent), Enterprise Bay (6.eight per cent), Downtown Dubai (6.6 per cent), Mohammed Bin Rashid Metropolis (6.Three per cent), Jumeirah Village Circle (5.four per cent), Palm Jumeirah (3.9 per cent), Jumeirah Seashore (three per cent) and Dubai Harbour (three per cent).

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