Covid - 19 Impact Is Over For Dubai Real Estate!
Dubai’s Real Estate Started 2021 On A Strong Note!
As traditional areas of Dubai witnessed good buying and selling activity in the first two months of the year.
â–ªï¸ The worst is over for the sector. Covid-19’s short-term impact will not prove to be a drag on the real estate sector, which is a long-term business.
â–ªï¸ Big developers holding back new project launches.
â–ªï¸ Smaller developers are witnessing less competition, which is also aiding the recovery.
Most Attractive Areas for Apartment Sales
â–ªï¸ Dubai Marina
â–ªï¸ Business Bay
â–ªï¸ Palm Jumeirah
â–ªï¸ Burj Khalifa
â–ªï¸ Al Thanyah Fifth
â–ªï¸ Al Merkadh
Top List in January For Villa Sales
â–ªï¸ Nad Al Sheba
â–ªï¸ Hadaeq Sheikh Mohammed Bin Rashid
â–ªï¸ Wadi Al Safa 5
â–ªï¸ Al Yelayiss 1
â–ªï¸ Jumeirah 1
Top List in February 2021
â–ªï¸ Hadaeq Sheikh Mohammed Bin Rashid
â–ªï¸ Dubai Investment Park 1
â–ªï¸ Wadi Al Safa 7
â–ªï¸ Al Thanyah Fourth
â–ªï¸ Wadi Al Safa 5
Covid Impact with Real Estate Sector
We noticed that the real estate sector is moving up, as public confidence in the sector is returning with the UAE’s success in its vaccination drive.
â–ªï¸ Real Estate is a long-term business
â–ªï¸ Covid-19 had a short-term impact on the sector
â–ªï¸ Long term attractiveness of Dubai’s real estate remains strong
â–ªï¸ Dubai has seen signs of recovery, especially in the villa and the rental segments with the Covid-19 hardships.
â–ªï¸ The ongoing successful Covid-19 vaccine drive by the UAE and Expo 2020 event in October this year are predicting a positive outlook for 2021 which will lead growth across sectors
Big Developers Verses Smaller Developers
â–ªï¸ Big developers have been scaling back their off-plan projects but the smaller developers gained due to the less competition.
Dubai’s Land Department Bulletin - Noted Investors & Investments
â–ªï¸ 3,036 New investors
â–ªï¸ 62 % entered the market in January and February
â–ªï¸ Local and international investors reached Dh14 billion
Indicators of Dubai’s Real Estate
Many other vital indicators of Dubai’s real estate market such as:
â–ªï¸ 96,396 Ejari contracts were recorded in January and February.
â–ªï¸ 57 & 43 % were new and renewed contracts.
â–ªï¸ Seven new projects were also registered during the same period.
Growth & Achievements
The DLD bulletin showed that:
â–ªï¸ Record number of mortgages at 3,007, which was the highest in a month.
â–ªï¸ The value of mortgages set a new record reaching Dh20.9 billion, which was the highest since October 2016.
â–ªï¸ Recorded the highest number of real estate transactions since March 2017 at 6,638 and valued at Dh29.4 billion since January 2018.
â–ªï¸ Sales recorded a growth of 17 % in January, as compared to the corresponding month last year.
â–ªï¸ Real estate brokers ranked in Dh84 million as their fees in January alone.
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