Dubai witnesses best April in 13 years for real estate sales transactions
Following the conclusion of Expo 2020, 6,983 real estate sales transactions worth AED 18.2 billion were recorded in April, the highest ever for the month since 2009.
Secondary market sales transactions, comprising 60% of the total, constituted 4,212 transactions worth AED 12.86 billion, while off-plan properties, comprising the remaining 40%, constituted 2,771 properties worth a total of AED 5.33 billion.
Compared to April 2021, April 2022 witnessed 45.48% more transactions, resulting in a 66.62% spike in value. This is broken down into a 46.2% increase in the secondary volume and a 63.86% increase in value, as well as a 44% increase in off-plan sales transactions and a 73.68% increase in value.
Commenting on the market, Scott Bond, UAE Country Manager at Property Finder, stated: “All eyes were on the real estate performance post Expo 2020, and with April 2022 performing the highest since 2009, the data is a strong testament to the growing appeal for the Dubai Real Estate Market. We also see a positive sentiment for investment opportunities following various governmental initiatives, including the recent new categories added to the Golden Visa rules, making Dubai’s properties one of the most preferred investment assets for the long term.”
According to Property Finder’s proprietary demand data, the top areas of interest in terms of transactions for villas/townhouses in April 2022 were Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, Damac Hills (Akoya by DAMAC), and The Springs. As for apartments for the same period, the top areas of interest were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle.