For both distant and more involved observers interested to know of the COVID-19 crisis’s seemingly inevitable effect on the Dubai property market, there was reason for genuine optimism, as revealed by a Dubai Land Department (DLD) report.
The official data shows evidence of a Dubai property sector gradually resuming its pre-crisis normality, helped by the government and its departments’ stimulus packages and initiatives.
What are the figures and what do they indicate?
The headline finding of the DLD report, as reported by Khaleej Times and other sources, was that transactions worth Dh72.5 billion were recorded for the first half of 2020. That included more than Dh24.5 billion worth of transactions in the second quarter, amounting to 7,834 deals.
The total number of deals for the whole period from January to June, meanwhile, was 22,779.
They’re numbers that indicate a Dubai property market already set for recovery, with ValuStrat’s head of real estate research, Haider Tuaima, observing: “The first quarter of 2020 saw cash sales of ready homes up 30.4 per cent annually.
“Despite the COVID-19 challenges that began its impact during the second half of March, in fact, the first quarter of 2020 was the best quarter for ready home cash sales since 2014.”
He added that although the second quarter was weaker, it was unsurprising that the first half of the year remained a relatively busy one for local property transactions.
“Going forward, assuming the property market remains open as at present and no further lockdown periods are reintroduced and judging from current trends, we expect improved transactional activity at a time when properties become more affordable,” Tuamia concluded.
Make sure your property remains in great shape – and safe!
Whether or not you expect to be involved in the local property market as a buyer or seller in the months ahead, there is good reason for you to look up the best providers of home maintenance services in Dubai in the UAE.
Having catered to the requirements of Dubai property owners since 1996, we knew long before the coronavirus pandemic the importance of keeping a home in this part of the United Arab Emirates in the best possible condition.
For a broad range of clients – including some who may live abroad and are therefore not in a position to easily maintain their home – we have long provided such key services as air conditioning and electrical maintenance as well as, of course, cleaning and sanitization.
With Renovo’s expert and seasoned assistance, you can make sure that your own Dubai property remains a presentable, safe and hospitable place to be, at this time when it could scarcely be more important to look after your own peace of mind.
Get in touch directly today with our professionals undertaking home maintenance services in Dubai in the UAE, and we would be delighted to talk to you about our packages and annual maintenance contracts. That way, we’ll be able to establish the arrangements with you that make absolute sense for your practical and financial requirements.