A report by Data Finder, a property information and data platform of the Property Finder, revealed 41,988 real estate deals in Dubai during 2019, compared to 34,961 deals in 2018.
The report, which "Emirates Today" obtained a copy of, indicated that this growth represents the highest number of transactions for the sale of real estate recorded annually in Dubai since 2008, in which the volume of 11,662 transactions was recorded, as transactions during these years grew by 260%.
The report expected that the real estate market will regain its momentum, especially after the announcement of the formation of the Supreme Committee for Real Estate Planning in September 2019, to rebalance the real estate market and balance the levels of supply and demand.
The committee contributed to enhancing market confidence, as record real estate transactions were recorded at 4.774 and 5,037 transactions in October and November of 2019 respectively.
While the month of December of last year recorded 2.989 real estate deals. The months of July (4.234) and September (4.007) and May (3.512) of last year were also distinguished by a good performance in terms of the volume of real estate sales.
For its part, Lynette Abbad, Director of Research and Data at Propertyfinder, said that it is natural to see more rise in transaction rates, as well as the beginning of price stability in some specific areas, in conjunction with our entry in 2020 and the launching of the Expo event. .