Chinese investors regain 3rd place in top buying nationalities in the groundbreaking month of February.

Allsopp & Allsopp had a groundbreaking month of February, with Chinese buyers returning to the top three buyers and recording an all-time high for sales transaction value. Year on year, overall sales transactions increased by 40% in February 2023 compared to the same month in 2022.

Additionally, Allsopp & Allsopp broke their own record for the most revenue generated in a single month, achieving this feat in February, which only had 20 working days. Allsopp & Allsopp sold 59% of all villas in Green Community, 36.3% in Arabian Ranches 1, and 41% in Jumeirah Golf Estates, Fantastic market share for those areas.

In January, the company also performed exceptionally well, beating the revenue generated in January 2022 by an impressive 62%. These figures highlight the company's continued growth and success in the Dubai real estate market.Year on year, client registrations increased by 109%, with new property listings and viewings also seeing an uptick of 14.57% and 23.74%, respectively.

The past 12 months reports from the Dubai Land Department report sales transactions for properties under the 3M AED price range continue to dominate the market, accounting for 79% of all transactions over the past 12 months. Allsopp & Allsopp's sales in February 2023 saw 70% of all sales falling into this price range. However, the company also saw growth in the luxury high-end market, with 14.6% of sales in February coming from properties over 5M AED, which is higher than the DLD's market average of 11%. One of the groundbreaking transactions that supported this number was the first sale of one of the AMAIA Villas for a whopping 72M AED in February. This is the first of six villas to be sold which are exclusively represented by Allsopp & Allsopp.

Looking ahead, Lewis Allsopp, Allsopp & Allsopp’s CEO says:'' I foresee a positive outlook for the Dubai real estate market for the next three years. It will be an incredible period for brokers , owners and investors but not so much for tenants looking for a good deal as I believe prices will continue to rise.”

To read the full report click in the link below:

February Market and company performance report