Dubai real estate sales soar as dollar weakens | ZAWYA MENA Edition

Dubai real estate sales soar as dollar weakens | ZAWYA MENA Edition

"Subsequently, development projects in Dubai have, in effect, become 14.8% and 11.2% cheaper depending on whether you are buying in euros or sterling. Indeed, UK investors, for example, buying in pounds could now save over AED 185,000 when buying a one-bedroom luxury apartment, at the Address Jumeirah Resort, once compared with the exchange rates at the beginning of March,“ added McCauley.According to Dubai-based real estate data & analytics company REIDIN, despite the lockdown, the total value of real estate transactions in the Dubai residential market still closed just shy of AED 10 billion in the second quarter of 2020, which although 40% down y-on-y, the volume of transactions was marginally up in May and June, a remarkable performance all things considered.The popularity of waterfront developments in Dubai was underscored, particularly in