Dubai Q3 Off-Plan Transaction Values Up 118% To AED4 Billion Says Chestertons Report

Chestertons MENA has reported the total number of off-plan transactions in the third quarter of 2017 has increased by 86% from the previous quarter, while the value of off plan transactions was up by 118% to AED4.04 billion.

“With reference to off-plan transactions, Dubai’s real estate market has witnessed seasonal peaks and troughs in the last year due to high levels of uncertainty. After a promising start to 2017, sales plummeted during a disappointing Q2 however they have picked up positive momentum in Q3,” said Ivana Gazivoda Vucinic, Head of Advisory and Research, Chestertons MENA.

The most transacted area in Dubai was Dubai South with a total of 1,151 transactions, closely followed by Downtown Dubai with 821 transactions and Business Bay with 686. The total value of off-plan sales in Q3 was AED4.04 billion with Downtown commanding 50% of the overall value.