Dubai’s real estate transactions in Q2 2020 reach Dh24.5 billion, says DLD report
Ramzan, A. (2020, July 25). Dubai's real estate sector records transactions worth Dh72.5 billion in H1 2020. Gulf News. Retrieved from https://gulfnews.com/business/property/dubais-real-estate-sector-records-transactions-worth-dh725-billion-in-h1-2020-1.1595666507612
Dubai: Dubai’s real estate market witnessed transactions worth Dh72.5 billion in the first half of 2020, despite the impact of the global COVID-19 outbreak, according to a report issued by the Dubai Land Department (DLD).
The figures indicate that Dubai’s real estate sector is gradually returning to normal, driven by the stimulus packages and initiatives launched by the government and its departments in the past few months.
Abbas, W. (2020, July 19). How Dubai Metro's Route 2020 will impact property prices, rents. Khaleej Times. Retrieved from https://www.khaleejtimes.com/business/real-estate/how-dubai-metros-route-2020-will-impact-property-prices-rents
Historically, areas up to 15 minutes of walk to a Dubai Metro station tend to outperform the wider property market.
Realty near these areas seen to be more favourable than before
Property prices and rentals around areas connected to Dubai Metro's Route 2020 will be more resilient compared to the wider market, according to property analysts and industry executives.
They believe that rates will rise in the medium to long term but not in the short term due to oversupply in the market.
Dubai earlier this month inaugurated Route 2020, a 15km extension to the Dubai Metro's Red Line, linking Jebel Ali, Discovery Gardens, Al Furjan, Jumeirah Golf Estate, Dubai Investment Park and the Expo 2020 site. Route 2020 will have seven stations and will serve communities populated by 270,000 people.