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The Dubai real estate market confirms the opinion of experts and demonstrates a confident recovery after the COVID-19 lockdown. According to Zoom Properties, real estate prices in Dubai increased by 21% in the first ten months of this year, due to demand in prestigious areas of the emirate.
According to Dubai Land Department (DLD), 246 purchase and sale transactions worth AED 610,890,000 and mortgage transactions worth AED 151,820,000 have been registered in the Dubai real estate market. Sales covered 223 villas and apartments worth AED 503,640,000 and 23 plots of land worth AED 107,250,000, while mortgages included 38 villas and apartments worth AED 110,840,000 and 18 plots of land worth AED 40,990,000.
Villa prices quickly "jump on" in the previous months, but by November it had dropped to a steady level. According to ValuStrat price index, the annual increase in apartment prices has remained unchanged, while villa prices have increased by 34% since November 2020.
