Property market snapshot: Dubai on the rise
The rapid vaccine rollout and easing of lockdown restrictions has helped to inject confidence into the UAE economy, with all the main PMI indicators indicating growth is being sustained.
1 minute to read
This is filtering through to Dubai’s property market in the form of rising transaction volumes. In fact, between January and April, there were over 15,000 residential transactions, a 34.5% rise on the same period last year.
This boost in activity is also reflected on the Palm Jumeirah where the number of residential deals has more than doubled over the same period, with over 700 sales registered during the first four months of 2021. In parallel, average transacted prices for apartments have also increased between April 2020 and April 2021, rising by 2.4% for to AED 3.8m, while average villa deal sizes have held steady at AED 14.1m.
