Dubai house sales hit 4-year high

Dubai house sales hit 4-year high
12/09/2019 , by , in INTERNATIONAL

Dubai’s real estate sector is coming out of the woods as residential sales transactions hit a 4-year high during the summer season this year, the latest data shows.

Dubai home sales have performed well, both in terms of volume and value, during June, July and August this year, as investors and end-users took the advantage of price correction and became a property-owner in one of the best cities of the world.

Residential sales transactions posted a 33.46 per cent year-on-year growth as Dubai witnessed 8,833 deals, compared to 6,618 in the corresponding period last year, according to statistics by Data Finder, a data platform under the Property Finder Group. The emirate recorded 8,694 and 7,066 residential deals in similar periods of 2017 and 2016, respectively.

Dubai home sales also hit a 4-year peak in terms of value, as deals worth Dh14.94 billion were recorded in the 2019 summer season, compared to Dh12.58 billion in the same period last year, reflecting an increase of 14.94 per cent. The emirate posted Dh13.25 billion and Dh12.75 billion home sales in 2017 and 2016, respectively.

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