Dubai records 27% surge in Q1 property deals

  • Date: 23-Apr-2021
  • Source: Zawya
  • Sector:Real Estate
  • Country:UAE
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Dubai records 27% surge in Q1 property deals

Dubai recorded the second highest number of real estate transactions since February 2017 in the first quarter, with 6,590 deals valued at about Dh22.9 billion, a growth in number by 43 per cent and in value by 40 per cent year-on-year.The real estate bulletin issued by Dubai Land Department, ‘Real Estate Updates,' March 2021, showed that real estate transactions in Q1 2021 achieved a significant growth of 27 per cent and 47 per cent compared to Q1 2020 and Q1 2019, respectively.“The figures revealed the continuity of achieving positive results in 2021, thereby continuing to enhance the trust of local and international investors in Dubai's attractive and vibrant real estate environment,” the DLD bulletin said.The value of real estate brokerage commissions achieved by active real estate brokers in the real estate market reached Dh392 million in Q1 2021, while 143,374 Ejari contracts were recorded in Q1 2021, 57 per cent of which were new contracts and 43% were renewed contractsThe top five areas for investor attractiveness for villa sales in Q1 were Hadaeq Sheikh Mohammed bin Rashid, followed by Wadi Al Safa 5, Wadi Al Safa 7, Nad Al Sheba 1, and Al Thanyah Fourth. In apartment sales, Dubai Marina,