Real estate transactions in Dubai for the month of June jumped by 60 percent when compared to the month of May and has signaled a potential V-shaped recovery, according to real estate portal Property Finder.
According to a report released by them, the real estate sector in Dubai has been recording more than 570 sales transactions on average over the past several weeks as the secondary market bounced back to pre-Covid levels.
Rizwan Sajan, founder and chairman of Danube Group recently told the media, “We all know that Dubai has an excellent track record for bouncing back from adversities. I am not surprised by the report as Dubai’s investment market offers a plethora of opportunities for investors. It is one of the safest and lucrative investment markets across globe, giving one of the highest returns on investment of around six to eight per cent, which is expected to increase in the coming months.”
The real estate sector in Dubai recorded the best first-quarter performance in the last six years, despite the coronavirus pandemic, according to ValuStrat’s May 2020 report.
The first quarter of this year saw cash sales of ready homes up 30.4 percent annually with no change quarterly.
The report on the Dubai real estate sector further revealed that April cash sales transaction volume performance was just half of what was reported for March. Ready homes sales volume witnessed a steep monthly fall of 75 percent, off-plan homes sales declined 32 percent when compared to March.
Developers such as Emaar, Dubai Properties, Dubai Holding, and Danube were among the best sellers during the first quarter.