Dubai’s real estate market is continuing to recover from the impact of the coronavirus pandemic. January witnessed the highest number of deals for properties in Dubai's secondary market for nearly seven years, according to new figures.

Data from Mo’asher, Dubai’s official sales price index, showed that 72% of a total of 3,300 sales transactions completed last month were in the 'ready to move' sector, the highest number since March 2014. Of the total sales transactions, worth AED 6.74bn, 70% were for apartments and 30% were for villas/townhouses.

The index data showed that Dubai’s real estate market is continuing to recover from the impact of the coronavirus pandemic due to the proactive measures and incentive packages launched by the Dubai Government. The January figures also continued the trend throughout 2020 of the rising popularity of the secondary market which transacted 2,373 properties worth a total of AED 5.43bn last month.

The figures build on the fourth quarter of 2020 which saw 11,065 sales transactions worth AED 22.07bn, with expectations that the upward trend will continue in February, which saw AED3.3bn worth of sales in the first week.