Dubai’s real estate market remains attractive to local and international investors despite the unexpected consequences of Covid-19 pandemic
According to the recent real estate bulletin launched by the Dubai Land Department (DLD) under the name Real Estate Updates, local and international investors are still interested in Dubai’s real estate market despite the unexpected effects, which arise from COVID-19.
To consolidate this fact the bulletin reports the entry of 10,728 new investors to the market, the figure standing for 70% of the total number of investors throughout the first three quarters of 2020.
Another indicator of the market’s vitality during the above mentioned period is, according to the bulletin, 369,055 contracts registered at Ejari, an online registration system for tenancy contracts, wherein 52% of the contracts were renewed and 48% were new.
From January to September 2020 Dh50 billion ($136 billion) were deposited into Dubai’s real estate market as transactions and mortgages. As a result, real estate brokers’ commissions amounted to Dh706 million ($192 million) during the given period.
In addition to that, the bulletin listed top five locations most attractive to investors. As for villa sales, Al Hebiah Fourth, Wadi Al Safa 5, Al Yelayiss 2, Madinat Al Matar and Wadi Al Safa 7 are on top of the list, whereas in apartment sales the leaders are: Burj Khalifa, Nadd Hessa, Al Hebiah First, Al Barsha South Fourth, and Hadaeq Sheikh Mohammed Bin Rashid.