Fitch Affirms Dubai's Housing
Here are some top house searching sites to get you started were:
â–ªï¸ Dubai Hills Estate
â–ªï¸ Arabian Ranches
â–ªï¸ Palm Jumeirah
â–ªï¸ Mohamed bin Rashid City
â–ªï¸ Damac Hills
As for apartments, the top areas of interest were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle.
Dubai residential sector -The Top Gainers
According to the case studies:
â–ªï¸ Dubai residential sector recorded 3,814 transactions worth AED 7.43 billion in February 2021.
â–ªï¸ Recorded the highest number of secondary/ready properties transacted in a single month since March 2014.
â–ªï¸ Total 7,109 transactions worth AED 14.16 billion
â–ªï¸ 68 per cent of all transactions were for secondary/ready properties and 32 per cent were for off-plan properties in February.
The COVID-19 effect: Clear signs of green shoot growth
Upgrade to a larger property with more internal & external space
During the pandemic situation, it was very clear that the consumers wanted to move into a property now as if they canâ€™t even wait for construction to be completed for an off-plan property. The real estate sector has a sudden increase and faced certain challenges and opportunities created by the pandemic.
In this year, expected to handover 41,500 new residential units and 1.5 million sqft of office space in Dubai.
1. The off-plan market transacted 1,163 properties worth a total of AED 1.61 billion and the secondary market transacted 2,650 properties worth a total of AED 5.82 billion.
2. The number of off-plan transactions in February increased by 35.8 % and the secondary/ready property transactions increased by 8.2 %, comparing to January 2021
Residential sales hit new high in February
In the villas/townhouses sector:
â–ªï¸ Nad Al Sheba - 10.3 %
â–ªï¸ Followed by Dubai Hills Estate - 8.3%
â–ªï¸ Green Community - 8.0 %
â–ªï¸ Arabian Ranches - 4.7 %
â–ªï¸ Dubailand - 4.0 %
For apartment sector:
â–ªï¸ 14.9 % of all sales transactions took place in Business Bay
â–ªï¸ Dubai Marina - 9.0 %
â–ªï¸ Jumeirah Village Circle - 8.0 %
â–ªï¸ Downtown Dubai - 6.5 %
â–ªï¸ Palm Jumeirah - 6.2 %
Choose your top villas/townhouses & apartments!!
The top areas of interest in terms of searches for villas/townhouses in February 2021 were Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Mohamed bin Rashid City and Damac Hills.
As for apartments for the same period, the top areas of interest were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle.