Dubai’s residential property market on continued upward recovery trajectory

Dubai’s secondary, or ready residential property market, continued its recovery path with February recording the highest number of transactions in a single month since 2014, following a solid performance in January and the second half of 2020.

The total number of property transactions year-to-date was 7,109 transactions, worth AED 14.16 billion, where February had 3,814 transactions worth AED 7.43 billion. This is up 15.6 percent from January 2021 in terms of volume and 10.2 percent more in terms of value, according to Data Finder, the real estate insights and data platform under the Property Finder group.

“During the pandemic, it was very clear in the search and demand data, which we analyse daily, that consumers wanted to move into a property now and not wait for construction to be completed on an off-plan property. This trend was very apparent with end-users who were looking to either purchase their first home in Dubai or upgrade to a larger property with more external and internal space,” said Lynnette Abad, director of Research & Data at Property Finder group.

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