Dubai ready property market set for sales "surge" in H2 2020

Appello Real Estate revealed a 40% YOY upward sales movement in ready property in H1 2020 despite COVID-19

Appello Real Estate saw a 40% spike in buyer enquiries for ready property in H1 2020
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Appello Real Estate saw a 40% spike in buyer enquiries for ready property in H1 2020

Dubai-based brokerage firm Appello Real Estate has shown optimism in Dubai’s economic recovery from the impact of COVID-19 after revealing a 40% YOY spike in buyer enquiries for ready property.

Despite the regional impact of COVID-19, Appello CEO Naval Vohra said the ready property segment of the market in Dubai has been seeing signs of “upward movement” in the last six months, and believed this is a trend potentially on the brink of a surge.

He added that recent examples of the surge of Dubai property included master developer Nakheel bringing in $60.7m (AED 223m) from March to May for luxury villas in locations such as Al Furjan and Nad Al Sheba.

“An interesting side effect of so much uncertainty right now is that buyers appear to be psychologically and financially drawn to inventory that is complete – a pristine finished product they can touch and feel and enjoy,” said Vohra.

“People are yearning for homes they can enjoy now in 2020, with green space on their doorstep, (safe) human interaction, a sense of wellbeing – and who can blame them?”

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