Secondary residentialnbsp;property sales in November 2020 breaks seven year record

Secondary residentialnbsp;property sales in November 2020 breaks seven year record

Dubai: In November 2020, 3,928 transactions worth AED 7.65 billion took place in the Dubai Real Estate market, the highest number of transactions in nine months. According to Data Finder, the real estate insights and data platform under the Property Finder group, by volume 61 percent of these transitions were in the secondary market whereas 39 percent were in the off-plan market. By value, 74.4 percent of the total AED 7.65 billion was for secondary transactions and 25.6 percent for off-plan transactions.In April 2014, 2,265 secondary residential real estate sales transactions took place and then the transactions declined and never went to more than 1,850 transactions a month in over 6 years. April and May 2020 were the lowest months historically for secondary sales because of the lockdown but since the ease in restrictions the secondary residential real estate sales have been on a rise, peaking in November 2020 with 2,179 sales transactions. The highest in six years and seven months.If we look at apartments and villa/townhouses separately, 1,402 secondary apartment sales transactions took place in November 2020 and were the highest transaction figures since July 2019. However the secondary villa/townhouse sales in the past three months have been historically