All in Landlords
Property transactions in Dubai recorded a strong rebound in the third quarter compared to the previous quarter.
There has been a lot of recent discussion about the management of buildings and developments in Dubai and paying service charges during times when the common facilities in jointly owned property developments were closed due to social distancing rules. Homeowners are now taking a look at management operations of their building developments and how they can get involved in their community.
The Dubai Land Department introduced a new service that links real estate owners with brokers to help them sell or rent their property, with the aim of improving communication, reducing complaints and boosting transactions.
Property transaction levels in Dubai in June hit what was previously recorded in February, setting a foundation for recovery of the local property sector for the second-half of 2020.
Arabian Ranches has claimed the top spot among buyers and investors interested in ready villas in Dubai in the first-half 2020, followed by Palm Jumeirah and The Villa.
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.