Dubai real estate transactions hit a record 11-year high on Sunday, with the highest number of real estate transactions ever recorded in Dubai in a single day. A total of AED 888.3 million, the highest figure since 2008.
The second highest volume was on September 6, 2015, when 405 real estate transactions were registered in Dubai.
The minimum transaction was recorded so far this year on May 16, with 163 real estate transactions.
According to Propertyfinder statistics, the most expensive real estate deal was recorded on November 24, when a five-bedroom penthouse on the 45th floor of the One JBR project in Jumeirah Beach Residence was sold for AED 33 million. .
Lynette Abbad, research and data director at Property Finder Group, said the third quarter of this year is starting to see strong deals coming as Expo 2020 approaches, and it would be great to see how these trends will grow next year.
She pointed out that the volume of sales transactions so far this year of the year increased by 4% compared to the volume of transactions in 2018, stressing that these trends will continue in 2020, where the real estate sector in Dubai is expected to witness a higher amount of transactions These figures point to the return of consumer confidence in the Dubai real estate market, with many new offers at affordable prices and with Expo 2020 approaching.