Property sales in Dubai were at the highest level in 16 months, according to new research.
Figures from Mo’asher, the official sales price index from Dubai Land Department (DLD) in cooperation with Property Finder, recorded 4,643 transactions worth Dh10.9 billion last month.
Overall, transaction numbers grew 23 per cent and in value terms, deals grew 47 per cent in March compared to February.
The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being quarter one of 2012.
Quarter one of 2021 had 11,753 sales transactions worth Dh25 billion.
In total, quarter one of 2021 had six per cent more real estate sales transactions than quarter one of 2020, 16 per cent more for secondary properties and seven per cent less for off-plan properties.
When compared to quarter one of 2020, quarter one of 2021 had 15 per cent more total sales transactions, 70 per cent more for secondary properties and 29 per cent less for off-plan properties.
The top areas of interest in terms of searches for villas/townhouses in March were Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Mohamed bin Rashid City and Damac Hills.
As for apartments for the same period, the top areas of interest were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle.