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In the period from June 5 to June 11, sales of off-plan projects significantly decreased in Dubai, but sales of finished real estate increased. Such statistics are provided by the Dubai Land Department (DLD).
According to DLD analysts, 2,796 transactions totaling AED 7.22 billion ($1.97 billion) were made in Dubai during the week. At the same time, sales of off-plan real estate, having reached a peak by June 6, sharply declined. And if at the peak real estate was sold for AED 806 million ($219 million), then on June 9 there were transactions for only AED 334 million ($91 million).
Sales of finished real estate, on the contrary, peaked by June 9. Finished objects worth AED 1.07 billion ($290 million) were sold in Dubai in just one day.
It is unclear whether this trend will continue. It is noteworthy that analysts often predict the opposite for the Dubai real estate market: further significant growth of the off-plan projects market and a slowdown in the growth of the finished real estate market, followed by a plateau.
