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  • 31-05-21

    Dubai’s rollercoaster property market stands at flatline after pandemic hit in 2020

    (MENAFN)Dubai’s property market is recovering from a six-year of melancholy as wealthy international investors drive a buying frenzy that is breaking records and fueling an economic recovery.

    Luxury villas are the hottest sector in the market, with European buyers looking for homes on Dubai’s signature Palm Jumeirah man-made island, in addition to golf course estates.

    According to Zhann Zochinke, chief operating officer of consultancy Property Monitor, Dubai’s rollercoaster property market was on a flatline since the pandemic took place in 2020 and the emirate slammed closed its borders.

    AFP quoted him as saying that “Then straight after that lockdown period we started to see transaction volumes increase, and they really haven’t stopped since.”

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