Dubai recorded 1,824 property sales transactions worth more than Dh3.62 billion in April amid lockdown measures to contain the spread of Covid-19, according to Property Finder.
Off-plan property sales dominated last month's transactions, accounting for 70 per cent of all activity, primarily in the communities of Villanova villas or townhouses and Dubai Creek Harbour for apartments, according to a new report by Data Finder, the data platform of Property Finder.
Top off-plan sales locations were The Lagoons in Dubai Creek Harbour with 123 transactions, Jumeirah Village Circle with 112, Villanova with 110, Umm Suqeim at 105 and Business Bay at 97 transactions.
The year-to-date total reached 12,254 sales transactions in Dubai worth Dh24.15bn.
The volume of transactions for the secondary market were "considerably lower" than the off-plan market, according to the report. However Dubai Marina and Palm Jumeirah remained in dominant positions. These were followed by Mudon, Downtown Dubai and Dubai Hills Estate.
The top communities for apartment sales were Jumeirah Village Circle, Dubai Creek Harbour, Umm Suqeim, Downtown Dubai and Jumeirah Beach Residence.
The top five communities for villa and townhouse sales were Villanova, Serena, Dubai South, Jumeirah and Arabian Ranches.
Consumers' top property searches were focused on Dubai Marina and Palm Jumeirah with both areas accounting for 21 per cent of all searches in April.
"Since the beginning of March and when the Covid-19 crisis started, the percentage of searches on the Property Finder portal for villas/townhouses is higher than for apartments. This trend continues to grow even after the lockdown has eased," Lynnette Abad, director of research and data at the company, said.
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Where Dubai rents have risen and fallen, Q1 2020
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Compared to the previous weeks, sales enquiries submitted to agents for villas in Dubai rose 30 per cent compared to the same week last year, she said.
Rental leads for villas in Dubai are also up for the second week in a row, a 56 per cent increase compared to the same week last year," Ms Abad added.
Dubai's real estate market has softened due to concerns about an oversupply of properties and drop in oil prices that began in 2014. The property market could bounce back strongly in 2021 on the back of increased economic activity related to Expo 2020, according to Hussain Sajwani, the chairman of Damac, the UAE's third-biggest listed developer.
In an interview with Bloomberg TV, Mr Sajwani said new property launches in Dubai, the commercial and trading hub of the Middle East, could come to a halt this year as the Covid-19 pandemic squeezes demand.
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Quick facts on cancer
- Cancer is the second-leading cause of death worldwide, after cardiovascular diseases
- About one in five men and one in six women will develop cancer in their lifetime
- By 2040, global cancer cases are on track to reach 30 million
- 70 per cent of cancer deaths occur in low and middle-income countries
- This rate is expected to increase to 75 per cent by 2030
- At least one third of common cancers are preventable
- Genetic mutations play a role in 5 per cent to 10 per cent of cancers
- Up to 3.7 million lives could be saved annually by implementing the right health
strategies
- The total annual economic cost of cancer is $1.16 trillion
Brief scoreline:
Manchester United 1
Mata 11'
Chelsea 1
Alonso 43'
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
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Key recommendations
- Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
- Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
- Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
- More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Points to remember
- Debate the issue, don't attack the person
- Build the relationship and dialogue by seeking to find common ground
- Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
- Listen actively without interrupting
- Avoid assumptions, seek understanding, ask questions
