Things are coming back on track in Dubai. Villas prices are up by nearly 17%. Dubai Property hike in Third Quarter is an indication economy coming back on track.
Property prices are going up from Abu Dhabi to Dubai. Yes, from Villas to resident raw houses and flats demand has gone up from the last 6month. So Dubai property hike in the third quarter is a great relief for all the big investors waiting for something good after COVID-19.
The UAE residential market:
A strong recovery is seen in the UAE property market. The latest data shows that more than 54 properties worth $10 million were sold in Dubai during the third quarter of this year.
Villas prices in Dubai:
Dubai villa costs rose 17% per cent on a year-on-year basis during the July-September quarter. Abu Dhabi residential prices rose two per cent, according to temporary data released on Wednesday.
“The emerging well-being around the fact that the UAE has handled the pandemic so well and truly under control. World Expo is adding to the trust that is taking hold in the domestic market.
Fight against pandemic:
The UAE’s forceful, rapid and world-leading answer to the pandemic has caught the attention. Fortunately, this has played a huge part in pushing up villa values.
Villa prices in Third Quarter Dubai:
Villa prices in Dubai are temporarily up by five per cent in the third quarter and almost 17 per cent higher than they were at this time the current year.
$10 Million number is back:
$10 million-plus residences sold currently stands at 50, breaking the prior record of 31 in 2015. There are still three months left to run this year.
July to September growth:
The last few months as sales for 16000 units were reported in the second quarter. In August, we showed a record double-digit extension in the villa market. The trend is anticipated to remain for the rest of the year and ahead with the commencement of Expo 2020 Dubai. Also read about arab new magazine.