The real estate sector of Dubai recently rebounded in the first four months of 2021 with a record high of 72 percent in deal value year-on-year, according to the reports from Dubai Land Department (DLD). It has also recorded a 51 percent jump in transactions. DLD revealed that 25,455 real estate transactions worth Dh92 billion were registered from January to April 2021.
The report states that the flexibility, attractiveness of the sector and the positive impact of the decisions and directives of the government have contributed to enhancing the trust of investors and customers.
In the first four months of 2021, about 8,749 new investors have entered the market and represented 65 percent of the total investors registered during April, a growth of 54 percent compared to the same period in 2020. DLD stated that the sector would continue to attract more investors because of its robust infrastructure and attractive investment opportunities.
The rise also proves the effective leadership of the government to keep pace with the new normal that reinforces the country’s position as a preferred investment destination. The sector has bucked global trends with a 27 percent surge in transactions in the first quarter of 2021. At the same time, the global property transaction volumes declined by 13 percent year on year to $187 billion.
According to another media report, the decline in global property transactions represents a resilient but uneven stage within the broader investment recovery. The updated regulatory measures, vaccine rollout and the upcoming Expo 2020 festivities are said to be an opportunity to revive the real estate market in the UAE in 2021.