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Dubai s Dh5m plus home sales surge as COVID-19 counter pays off

Let me present some numbers to you. In 2020, properties valued at over Dh5 million accounted for around 5 per cent of total sales in Dubai. So far this year, such homes have accounted for 6.6 per cent. In January 2020, homes whose price exceeds Dh7 million saw 30 properties being transacted, with Dh351 million generated. This year, January saw such sales more than and creating Dh861 million. In February last year, such sales totalled 58 properties for Dh619 million, while this year’s tally for the month was 62 properties and Dh768 million. And if we fast-forward to April, last month saw 100 properties of Dh7 million plus changing hands for Dh1.69 billion. The same last year was 41 homes and Dh514 million, which are subdued numbers because of the state of the market with COVID-19 impacting on demand.

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