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Dubai property market set for V-shaped recovery


Real estate sale transactions in Dubai jumped by 60 per cent month-on-month in June 2020 signalling patterns of a V-shaped recovery, according to developers and property experts.

Real estate portal Property Finder said the sector in Dubai has been transacting more than 570 sales transactions weekly on average over the past several weeks as the secondary market bounced back to pre-Covid levels.

"During the past three weeks the number of weekly real estate sales transactions has been consistently increasing by almost 11 per cent on average," the portal said in its report.

The second quarter saw total sales transactions of 5,564 worth Dh10.88 billion, which is half of what transacted in the first quarter.

Source: ZAWYA

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