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In 2019, Dubai property sales were up by a fifth compared to the previous year

07.01.2020
In 2019, Dubai property sales were up by a fifth compared to the previous year
The overall volume of real estate transaction recorded in 2019 broke the 11-year record.

Dubai real estate sales are constantly breaking records. Imexre.com wrote that in October 2019, sales reached an 11-year high on a monthly basis. Then 4774 real estate units were sold, which was the highest figure since 2008. And November even doubled Dubai’s records as for sales.

And now, the new data from Property Finder report shows that overall real estate sales registered by the Dubai Land Department (DLD) rose by 20% year-on-year, reaching a new 11-year high. In total, 41 988 real estate transactions have been concluded in Dubai in 2019.

The total value of the off-plan properties sold during the whole year of 2019 was 23,643.

Explaining the uptick in sales number, experts point out to the new accounting policies from private banking, changes in laws general global economic situation in the UAE. A lot more UHNWIs [ultra high net worth individuals] also are finding Dubai to be a safe haven for investing their properties.

The top five areas with the highest overall property sales transactions in 2019 were Business Bay with 3,146 transactions, Downtown Burj Khalifa with 2,816, Dubai Creek Harbour with 2,492, Dubai Hills Estate with 2,373 and Dubai South with 2,048 deals.

Luxury residential property buyers most often pointed to the Springs and Bur Dubai as their priority destinations for real estate investments, while potential commercial units buyers most often chose Deira and Downtown Dubai.

There were also over 45,000 units completed in 2019, according to Property Finder – the highest number of units finished in one year since 2014. Dubai also registered 18,345 transactions in the secondary market last year.

To always stay up to date with the latest analytics data and real estate prices in Dubai, subscribe to our newsletter using the form below. And in order to sell, lease or buy/ rent housing or commercial properties in Dubai, contact IMEX Real Estate. Our contacts:

Tel. in Dubai, UAE: +971 (50) 2528188 (Whatsapp, Viber, Telegram)

Toll Free Dubai: 800-IMEX (800-4639)

IMEX REAL ESTATE BROKER LLC, UAE

Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE

Email: pm@IMEXre.com

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