Properties Developers About Us News Contact +971 50 944 2924 info@manzelestate.com

Dubai property transactions hit 13 year high after new visa rules

Detail Image

Following the conclusion of Expo 2020, Dubai witnessed 6,983 real estate sales transactions worth $4.9 billion (AED 18.2 billion) in April 2022, recording the highest ever for the month since 2009.

Secondary market sales transactions, comprising 60 percent of the total, constituted 4,212 transactions worth AED 12.86 billion, while off-plan properties, comprising the remaining 40 percent, constituted 2,771 properties worth a total of AED 5.33 billion.

Commenting on the market, the UAE Country Manager at Property Finder, Scott Bond, said: “All eyes were on the real estate performance post Expo 2020, and with April 2022 performing the highest since 2009, the data is a strong testament to the growing appeal for the Dubai Real Estate Market.

“We also see a positive sentiment for investment opportunities following various governmental initiatives, including the recent new categories added to the Golden Visa rules, making Dubai’s properties one of the most preferred investment assets for the long term.”

April 2022 witnessed 45.48 percent more transactions than April 2021, resulting in a 66.62 percent spike in value.

This was reflected a 46.2 percent increase in the secondary volume and a 63.86 percent increase in value.

Off-plan properties witnessed a 44 percent increase in sales transactions and a 73.68 percent increase in value.

According to Property Finder’s proprietary demand data, the top areas of interest in terms of transactions for villas/townhouses in April 2022 were Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, Damac Hills (Akoya by DAMAC), and The Springs.

As for apartments for the same period, the top areas of interest were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle.

Source: Arabian Business