Dubai’s ready home sales continue to improve in July

Dubai’s ready home sales continue to improve in July

The property market hit a massive slump when governments around the world imposed lockdowns to contain the spread of coronavirus. In Dubai, the impact was felt during the second half of March, when everyone was advised to stay at home and developers put on hold new project launches.The decline in demand led to a 42 percent fall in off-plan property transactions and 10 percent drop in residential capital values  during the period.ImprovementDevelopers in Dubai had earlier said that buyers have returned to the market since restrictions started to ease. In June alone, Nakheel reported selling dozens of homes to buyers in the UAE in just a few months.In its latest report, ValuStrat said there has indeed been an improvement in the uptake of properties in Dubai, but buyers were mainly snapping