Sign in
Sign up
.jpeg)
The list includes top 8 locations with the highest number of property transactions as of June 1, 2021.
Activity at Dubai’s property market flatlined when COVID-19 broke out early last year. However, since the global lockdown was lifted and coronavirus restrictions eased, buyers have returned to the market snapping up all kinds of residential units, from massive villas on The Palm Jumeirah to luxury apartments in Burj Khalifa.
Over 4,832 property transactions worth USD 3 billion in total took place in Dubai in April, which is the highest result in four years. Most of the sold apartments and villas were secondary units, though demand for off-plan units is now also starting to pick up.
The strong demand for home ownership in UAE has been caused by the coronavirus pandemic that forced people to stay at home or keep social distance. Moreover, the decline in prices coupled with attractive mortgage deals is also stimulating the demand.
But what do these buyers invest their money in?
According to the latest data from the Dubai Land Department (DLD), most of the buyers tend to spend their money on locations that are quite close to the beaches as well as places that are well-connected to the city’s transport network and in proximity to shopping malls and restaurants. Areas that are situated a bit away from the city center but where property costs less than USD 136,000, also prove to be popular among homebuyers.
As of June 1, 2021, properties in the Marsa Dubai district, which is part of the Dubai Marina community, topped the list of the most desirable areas in Dubai. The area had 34 transactions closed in less than 24 hours on Tuesday. Units sold were mostly apartments and total residential sales reached USD 22.4 million.
Al Thanyah Fifth is the second-most popular area, where some off-plan units costing about USD 190,000 are about to be delivered. The district registered 25 sales transactions worth USD 4.5 in total.
The following area is Al Merkadh, where 23 apartments worth USD 6.5 million were sold in a single day.
Al Barsha South took fourth place, with 22 transactions at a total value of USD 3.7 million.
Next is Burj Khalifa in Downtown Dubai with 13 property transactions worth USD 10 million.
And three following areas conclude the list of top eight locations in Dubai that registered the highest number of transactions as of June 1, 2021: Al Hebiah (13 transactions, USD 3.1 million), Palm Jumeirah (9 transactions, USD 6.4 million), Business Bay (6 transactions, USD 1.6 million).
