UAE Real Estate Market Report Q1 2020

The first quarter of 2020 witnessed a decline in both off-plan and ready transactions by 29% and 8% respectively, compared to the previous quarter. This was the first dip in the volume of transactions since Q3 of 2018 after a long period of steady growth. However, when compared to the same time period last year, there has been an increase in both off-plan and ready transactions of 9% and 21% respectively. Overall, we can see that, despite the uncertainty towards the end of the first quarter of 2020 due to the COVID 19 outbreak and subsequent decrease in volume, the market has held its ground when we compare with the first three quarters of the previous year and momentarily exclude the remarkable uptick in Q4 2019 from the comparison.

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