Dubai documents over 1,800 property transactions in April

By Rocky Real Estate

Dubai documents over 1,800 property transactions in April

Dubai recorded 1,824 property sales transactions worth more than Dh3.62 billion in April, 2020 amid lockdown measures to contain the spread of Covid-19, according to Property Finder.

Off-plan property sales accounted for 70% of all transactions, primarily in the communities of Villanova villas or townhouses and Dubai Creek Harbour for apartments, according to a new report by Data Finder, the data platform of Property Finder.

Top off-plan sales locations by transactions were:

  • The Lagoons (Dubai Creek Harbour) – 123
  • Jumeirah Village Circle (JVC) – 112
  • Villanova – 110
  • Umm Suqeim – 105
  • Business Bay – 97

The year-to-date total reached 12,254 sales transactions in Dubai worth Dh24.15bn.

 

The volume of transactions for the secondary market were “considerably lower” than the off-plan market, according to the report. However Dubai Marina and Palm Jumeirah remained in dominant positions. These were followed by Mudon, Downtown Dubai and Dubai Hills Estate.

The top communities for resale apartments were:

  • Jumeirah Village Circle
  • Dubai Creek Harbour
  • Umm Suqeim
  • Downtown Dubai
  • Jumeirah Beach Residence

The top five communities for resale villas and townhouses were:

  • Villanova
  • Serena
  • Dubai South
  • Jumeirah
  • Arabian Ranches

Consumers’ top property searches were focused on Dubai Marina and Palm Jumeirah with both areas accounting for 21% of all searches in April.

 

“Since the beginning of March, 2020 and when the Covid-19 crisis started, the percentage of searches on the Property Finder portal for villas/townhouses is higher than for apartments. This trend continues to grow even after the lockdown has eased,” Lynnette Abad, director of research and data at the company, said.