UAE – Mubasher: The total value of residential transactions in Dubai rose by 10% quarter-on-quarter (QoQ) to AED 34.11 billion during the third quarter (Q3) of 2021 from AED 31.02 billion in the second quarter (Q2) of 2020.
The findings have exceeded the AED 31.67 billion level achieved in the fourth quarter (Q4) of 2013, according to the latest 'Observer: UAE Q3 2021 Market Report' released by the real estate services firm, Chestertons.
The completed property sales represented AED 20.63 billion of the total value, while off-plan sales rose in value by 48% Q-O-Q to AED 13.48 billion.
The Head of Strategic Consultancy at Chestertons MENA, Chris Hobden, commented: "The success of Dubai's initial COVID-19 response, bolstered by the pace of the UAE's vaccine rollout, has positioned Dubai as the only major global city to remain largely restriction-free over 2021."
