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  • 12-10-20

    Dubai's Property sales remain resilient amid rising COVID-19 concerns

    (MENAFN) The economic turmoil caused by the global coronavirus pandemic had not affected Property sales in Dubai which continued to be resilient as shown in new research says the decrease in listings has resulted in an undersupply of homes that have caused prices to rise.On an annual basis, the total transactions rose 50 percent over the third quarter of the current year, based on a report released by Dubai-based brokerage Allsopp & Allsopp.During the same period, the figure of loans went higher by 40 percent, whereas an increase from AED2, 209,397, to AED2, 284,491was seen in the average transaction price.Arabian Business news agency cited Lewis Allsopp as saying: "Q3 has seen a significant rise (95 percent) in clients enquiring to buy properties, however, we have seen listings decrease (down 13 percent) which has resulted in an undersupply across a number of communities in the city which has led to a three percent increase in the average sold price since Q3 2019."

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