Dubai Real Estate Market Report Q4 2020

The residential sales transactions continued to rise in the fourth quarter of 2020 and surpassed the total number of transactions that occurred in the first quarter of this year. The total transactions increased by over 30% in this quarter on the back of the secondary market which is at its highest since 2014. The offplan transactions also picked up in terms of volume in the fourth quarter and increased by over 26% when compared to the previous quarter while the secondary market transactions increased by over 33%. This continued trend of exceptional increase in the volume of transactions witnessed by the secondary market can be credited to lowered property prices. Another thing which is noteworthy is that the number of mortgage transactions also increased which suggests that end users are purchasing ready properties in high numbers for self-use.