Dubai-based property services company Allsopp & Allsopp registered the highest number of buyers and tenants in the first week of May since opening in 2008.

The firm reported a 67 percent increase in buyers registering their interest, as well as a 28 percent increase in tenants registering to lease a property from the first week in May 2019 to the first week of May 2020.

In a statement, Lewis Allsopp, the CEO of Allsopp & Allsopp, said, "Times may be unprecedented but for residents living in the UAE and seeing a future here in Dubai, plans to purchase their own homes have not diminished.

“The UAE government stimulus package and the Central Bank of Dubai’s increases in loan to value mortgages have encouraged many buyers into the market.”

Allsopp said there has been "a huge increase in activity in the market since the sterilisation period of 24 hours has been reduced".

“We are seeing more transactions and clients are ready to proceed with buying, selling and letting properties,” he said.