According to data released by Dubai-based developer Zazen Properties, the second quarter of this year saw a whopping Dh34bn of transactions for period homes in Dubai, up 750 per cent from the same period in 2020 (Dh4bn).

This is mainly due to the affordable pricing of the term homes, as well as the superb return on investment (ROI) of Dubai's property.

In 2020, when COVID-19 restrictions were eased, Dubai's term property market was flat, with most buyers opting to purchase completed existing or second-hand properties.

As of August this year, transactions of period homes reached their highest market share since the outbreak - 64.7 per cent. Transactions were up 8.1 per cent from the previous year, with a total of 12,134 units sold, the highest number of transactions in August's history.

So far this year, there have been more than 85,000 transactions of term homes, up 41.9 per cent from the same period last year and 125 per cent from 2021.