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For the third month in a row, real estate sales in Dubai are constantly breaking records. Imexre.com on a monthly basis. Then 4774 real estate units were sold, which was the highest figure since 2008. And November even doubled Dubai’s records as for sales. Last month, November 24th was the most effective sales day recorded in the history of real estate sales in Dubai, when a total of 515 real estate transactions were recorded worth for a total of AED888.3 million (US$241.8 million).
And now, the new data from Data Finder, a data analytics platform from Property Finder, shows that in November, overall real estate sales registered by the Dubai Land Department (DLD) rose to 5,051, reaching a new 11-year high and increasing by 5, 8 per cent since October 2019. In total, in the last three record months, 13,832 real estate transactions have been concluded in Dubai.
Luxhabitat, a company gathering statistics on premium real estate transactions in Dubai and the UAE as a whole, has estimated that during last three months of the year the number of high-end property transactions in Dubai also doubled.
The total value of elite properties sold during the first quarter in such areas as , , and low-density villas area of was almost twice from higher than the amount spent by investors on luxury housing in the previous month.
Explaining the uptick in sales number, Luxhabitat’s luxury sales director, Ian Kirkby, said: “The main reasons include the new accounting policies from private banking in the European countries, changes in tax laws in India and the general global economic situation. A lot more UHNWIs [ultra high net worth individuals] are finding Dubai to be a safe haven for investing their properties.”
A recent research by Cluttons has also confirmed this latest trend. 27 percent of high net worth individuals polled across the region named Dubai as their most preferred city for real estate investments. Luxury residential property buyers most often pointed to the Springs and Bur Dubai as their priority destinations for real estate investments, while potential commercial units buyers most often chose Deira and Downtown Dubai.
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