Property prices in Dubai ease out in H1 2020

Property prices in Dubai ease out in H1 2020

Zainab Mansoor

Wednesday 15 July 2020

As many as 15,897 sales transactions were recorded in Dubai between January to June 2020

Property prices in the emirate of Dubai have eased out in H1 2020, as conditions become favourable for buyers and renters amidst the waning Covid-19 crisis, a new report has revealed.

Despite pressing times, property prices for sale and rent in Dubai's popular neighbourhoods have remained stable in the first six months of 2020, experiencing minor declines recorded under 4 per cent compared to the year-earlier period, Bayut and dubizzle's H1 2020 Market Report revealed.

Prospective buyers on both platforms remain keen for established areas with family-friendly amenities such as Dubai Marina, Downtown Dubai, Arabian Ranches and Palm Jumeirah.

Meanwhile, tenants continue to lean towards integrated communities such as Jumeirah Village Circle, Dubai Marina, Mirdif and Jumeirah on both Bayut and dubizzle platforms.

According to Dubai Land Department's data, 15,897 sales transactions were recorded in Dubai between January to June 2020, amounting to a total value of Dhs32.5bn.

Properties for sale in Dubai

In the first half of 2020, demand increased for established family-friendly neighbourhoods across the emirate.

Arabian Ranches held the top spot among buyers and investors interested in ready villas, followed by Palm Jumeirah and The Villa. The