Dubai’s house sector set for V-shaped recovery – ZAWYA

Dubai’s house sector set for V-shaped recovery – ZAWYA

Dubai's house sector set for V-shaped recovery | ZAWYA MENA Edition HomeBusinessReal EstateArticleDubai's house sector set for V-shaped recovery DLD recorded 1,440 sales transactions, comprising 66.5 percent in the off-plan segment and 33.5 percent in the re-sale segment    Image used for illustrative purpose. Dubai Marina skyline.Dubai's residential property market is set for a V-shaped recovery as per various indices for May 2020, the Dubai Land Department (DLD) said."Currently, the Dubai residential real estate market is going through a V-shaped recovery and when analysing various indices for May 2020, we are seeing the same V-shaped pattern in the recovery," said Latifa Ibrahim Ahmed, director of the Real Estate Studies & Research Department at DLD.The total value of sales transactions in Dubai's residential sector hit Dh27.8 billion in the first five months of 2020 as the house price index rose by 12.1 per cent in May 2020 compared to the base year 2012, reflecting a month-on-month growth of 0.5 per cent."Currently, the Dubai residential real estate market is going through a V-shaped recovery and when analysing various indices for May 2020, we are seeing the same V-shaped pattern in the recovery," said Latifa Ibrahim Ahmed, director of the Real Estate Studies