UAE - Mubasher: The total value of completed residential property sales in Dubai jumped by around 35.5% to AED 21.67 billion in the second half (H2) of 2020 from AED 15.99 billion in the same period of 2019, according to Chestertons.

Chestertons referred that Dubai's residential sector witnessed a comparatively strong performance in H2-20, driven by higher completed property sales and continued tenant demand in villas.

The leading international real estate services company added that Dubai recorded a 14% decline in residential property sales to AED 55.46 billion from AED 64.34 billion in the previous year.

Villa sales prices in the emirate retreated by 3.6% year-on-year (YoY) in 2020, with the overall annual drop eased by a strong final quarter, while apartment sales price decreased by 9.5%.

 In the rental sector, Dubai recorded an annual decrease of 5.3% in villa rents and 12.4% in apartment rents.