UAE - Mubasher: Dubai's property market recorded a 15.6% month-on-month (MoM) rise in the volume of transactions during February 2021 to 3,814 transactions, when compared to January. 

These transactions are valued at AED 7.43 billion last month, up 10.2% when compared to January, according to Data Finder, a real estate insights and data platform under the Property Finder group.

Therefore, the total number of year-to-date transactions increased to 7,109 at a total value of AED 14.16 billion.

The secondary and ready properties accounted for 68% of all transactions in February, while off-plan properties represented 32%.

Dubai witnessed a record-breaking level in its residential sector during the second half (H2) of 2020.

This level has continued into January 2021 where the secondary and ready market registered the highest number of transactions in a single month over the past seven years.

The Director of Research & Data, Lynnette Abad, said: "Since restrictions have eased and as we moved into a new year, we started to see developers launch new phases to existing projects which are under construction. These new launches, especially in the villa/townhouse segment, proved to be very popular with investors over the last few months."