Dubai property sales transactions hit 11-year high in Q1, report says

Dubai property sales transactions hit 11-year high in Q1, report says

The first quarter of 2021 registered the highest recorded number of home sales transactions in Dubai since 2010, according to a market report by real estate consultancy ValuStrat.

Dubai registered sales of more than 6,000 ready homes worth Dh13.5 billion ($3.7bn) and 3,600 off-plan properties worth Dh5bn in the first three months of the year, the report said.

The volume of ready home sales increased 76.1 per cent on an annual basis, while off-plan sales declined 30.2 per cent. When compared to the previous quarter, ready home sales were up 17.4 per cent and off-plan sales were 8.9 per cent higher, ValuStrat said.