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Real Estate Deals in Dubai Hit 11 Year High in 2019

Infra News - Published on Mon, 13 Jan 2020

Image Source: UAE Real Estate
Leading property portal in Mena Property Finder said that Dubai registered a total of 41,988 real estate transactions in 2019, marking the highest number of sales transactions registered annually in Dubai since 2008. The number of property deals during 2019 also marks a growth of 20 per cent in the volume of registered property sales transactions compared to 34,961 transactions in 2018. There were 11,662 property sales transactions registered in Dubai in 2008. The Dubai real estate market has, therefore, grown by 260 per cent in the past 11 years in terms of the volume of transactions. The second highest number of property sales transactions registered in Dubai since 2008 was in 2017 (40,649).

This news comes on the heels of recent reports about the Dubai property market regaining momentum, especially after the announcement of the formation of the Higher Real Estate Committee to rebalance supply and demand, back in September 2019. The committee helped inspire market confidence, with both October and November 2019 seeing record number of transactions - 4,774 and 5,037, respectively. December 2019 clocked in 2,989 registered property sales transactions. Other good months for property sales in Dubai last year were July (4,234), September (4,007) and May (3,512).

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Posted By : Yogender Pancholi on Mon, 13 Jan 2020
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