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Property Finder: Dubai property hit four-year high in summer 2019

Real estate market expands in June-August 2019 led by 5,032 off-plan transactions worth $2bn during the period

Dubai's real estate market is growing [representational].
Dubai's real estate market is growing [representational].

Real estate platform Property Finder revealed that Dubai’s housing market recorded a “robust performance” in June, July, and August 2019, with transactions reaching a four-year high during the period led by 5,032 off-plan transactions worth $2bn (AED7.3bn) noted during the period, marking significant growth over transaction numbers of 3,462 in June-August 2018. 

In terms of total volume, Dubai witnessed 8,833 residential sales transactions in the summer of 2019 compared to 6,618 deals in the corresponding period of 2018, Property Finder reported. 

Commenting on the data, Property Finder’s director of research and data, Lynnette Abad, said: “Off-plan is still a very lucrative investment in Dubai with attractive pricing and developer incentives such as enticing payment plans and post-handover payment plans.

“This year, we have seen many end-users get on the property ladder, particularly consumers who have been sitting on the fence deciding when was a good time to buy.”

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Construction Week - Issue 758
Feb 08, 2020