Dubai property market sees strongest ever start to a year with 12,119 transactions
The Dubai property market recorded its strongest start to a year, with 12,119 sales transactions to date, a report compiled by real estate data platform Property Monitor has shown. This was a 17.7 per cent increase in transactions compared to 2017, which was the previous best start to a year, the company said. The Dubai property market also registered a record 6,346 transactions last month, which was 43.5 per cent higher than any other February on record, the company said. February sales also grew 9.9 per cent on a monthly basis. “Dubai remains very affordable by international standards with many European markets raising barriers to external investment, coupled with rising interest rates and inflation headwinds dampening the post-Covid recovery,” said Zhann Jochinke, chief operating officer of Property Monitor. “This combination of factors could be added momentum for Dubai as a safe-haven market in the near term.” The UAE’s property market has recovered strongly from the coronavir...