This yerar September's property sales figures have reinforced that the Dubai real estate market is in a full V-shaped recovery, according to Data Finder, the real estate insights and data platform under the Property Finder group.
A total of 3,853 property sales transactions were registered last month, up 56.56 per cent higher than August and 59.68 percent higher than July, it stated.
The total value of the transactions stood at AED 8.93 billion ($2.43 billion) which is 88.38 percent higher than August figures and 36.04 percent higher than the previous year. Weekly sales transactions have been increasing at an average rate of 27.6 percent weekly for the past 4 weeks, it added.
The breakdown of the transactions for September was 46.1 percent for off plan and 53.9 percent secondary which is a rise in the off plan sector by 15 percent compared to August.
Looking at the number of transactions in each segment, the off plan transactions grew by 128.83 percent and the secondary transactions grew by 23.22 percent compared to August, stated the report by Property Finder.
The value of off plan properties transacted grew by 140.49 percent and the value of secondary property transacted grew by 79.33 percent compared to August, it added.
The third quarter witnessed a total of 8,727 property sales transactions which is 55.76 percent higher than Q2 2020. The total value of the transactions in Q3 was AED 18.376 billion which is 67.71 percent higher than the Q2 2020, said the report.
This brings the overall total for sales transactions this year to 24,573 with a total value of AED 49.39 billion, it added.