The top-end real estate properties priced at 10 million dirhams or more made up 2.5 percent of all homes sold in Dubai in March…reports Asian Lite News
The luxury real estate property sales in Dubai almost doubled in March to 84 units sold , which is worth around 1.7 billion dirhams, compared to the previous month, according to Arab News report.
The nationwide vaccination drive and the residents’ cooperation to it are reported to be the major reasons behind such an increase in the sales.
It said that regulatory changes in the UAE, as well as an aggressive vaccination drive have attracted rich home buyers – mainly from Europe – to purchase properties in Dubai and take advantage of the city’s well-coordinated response against COVID-19, say brokers, according to Arab News
The top-end real estate properties priced at 10 million dirhams or more made up 2.5 percent of all homes sold in Dubai in March, according to real estate intelligence Property Monitor.
“Foreign investor investment is coming back in, particularly over the past couple of months, as a result of the successful vaccine roll-outs, and the safety and security measures,” Dana Salbak, regional head of research at Jones Lang LaSalle (JLL), told Bloomberg TV on Sunday, the Arab News reported.
Salbak also noted a shift in homebuyer behaviour because of the pandemic with villas in especially high demand as buyers sought space after a year of travel restrictions and lockdowns.