Fuelled by the ever-lasting impact of Expo 2020, Dubai's rental property market is also thriving
and has had a positive impact on real estate sales. In addition, thanks to the success of Expo 2020, there were 5,795 real estate transactions worth AED 16.7B (USD 4.5B) in January alone, according to Property Finder. This indicator makes the previous month the best January ever on record, with off-plan sales transactions having increased by a whopping 307.9%. At the same time, the total transaction value surged by 6.4% and volume increased by 3.5% in contrast with January.
The area of Dubai Harbour was the best-performing in terms of sales since it registered a total of AED 2.3B (USD 626M) worth of sales, as seen in the current data of Dubai REST. In particular, one of the newly released projects in Emaar Beachfront, called Beach Mansion, was leading the way, with 123 properties having been sold in the project. Beach Isle, Palace Beach Residence and Grand Bleu Tower, meanwhile, followed the lead, as they witnessed sales of 29, 25 and 21 units respectively. Other popular developments in Emaar Beachfront in January included Marina Vista, Sunrise Bay and Beach Vista. It is worth mentioning that Beach Mansion continues to be in demand in February as well, as there were 36 properties sold, worth AED 162.6M (USD 44.3M). The strong real estate buyers’ response to this luxury project can be attributed to its wide range of resort-like amenities, which include cabanas and BBQ areas, a dedicated fitness area and an infinity-edge swimming pool, among others.