Dubai property sales on an upswing, despite Covid woes

  • Date: 20-Jan-2021
  • Source: Khaleej Times
  • Sector:Real Estate
  • Country:UAE
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Dubai property sales on an upswing, despite Covid woes

Dubai has been registering an uptick in property sales transactions in the last six months.

Secondary, ready villas, and townhouses are in high demand as per Dubai Land Department. But it is not just the ‘glut' in the market that is driving this upswing.

The prices, too, are reporting an upward trend for the last six months. The rising interest in the mid-to-high housing market reflects a paradigm shift in mindset brought about by the pandemic, say experts.

“Yes, people are buying and are leaning towards townhouses and villas. They want to own a private space that allows less interaction with other people,” says Babar Ali, Sales Director, Homesmith Estate Brokers.

Shiv Gupta, co-founder, mymoneysouq.com, echoes similar sentiments. “The novel coronavirus disease (Covid-19) pandemic forced digitisation on us. It imposed a change where our homes are no longer just a sanctuary for relaxation but double up as office space, too. So, people are looking for bigger spaces, even if they are a little far off from work or city centres. They don't mind longer commutes to work, which in most cases have been reduced to once or twice a week or less, for