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

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

Friday 07 April 2023Wed 16 Feb
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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

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