Mo’asher – 2020 Year in review
The last few months in 2020 have been record breaking for the secondary market with November and December both breaking the secondary/ready market transactions records for the past 7 years. December 2020 had 2,579 secondary/ready transactions worth AED 6.22 billion, 9.7% more than November 2020, which was already a record breaking month for the secondary/ready market.
Dubai real estate market performance, due to the proactive measures taken and initiatives set by the Dubai Government, is now back to a pre-covid sales transactions records. It was a tumultuous year globally, but Dubai managed to keep things under control and Dubai managed to keep the real estate market alive through innovative initiatives.
To date, we have been going toward a V-shaped recovery and when we look at the numbers, from the lowest numbers we had in May (1,452 transactions) the market has recovered by almost 270 percent.