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DUBAI PROPERTY MARKET

Dubai recorded the highest volume of property sales transactions in June this year, making it the highest monthly volume in eight years.

Across Q22021 Dubai had a total of 15,638 transactions worth Dhs36.86bn, 33.26 per cent more than Q1 2021 in terms of volume and 46.76 per cent more in terms of value.

In Q2 2021, 61.5 per cent of all transactions were for secondary/ready properties and 38.5 per cent were for off-plan properties. The off-plan market transacted 6,025 properties worth a total of Dhs9.17bn and the secondary market transacted 9,613 properties worth a total of Dhs27.68bn. Comparing this to Q1 2021, the number of off-plan transactions in Q2 increased by 53.93 per cent and the secondary/ready property transactions increased 22.91 per cent.

 

January 2021

After a couple of record breaking months, which were November and December 2020, January 2021 has started the year with the same trends which is healthy news for the residential real estate industry. In total January 2021 had 3,300 transactions worth AED 6.74 billion, 15.5 percent more than January 2020 in terms of volume and 37 percent more in terms of value.72 percent of all transactions in January 2021 were for secondary/ready properties and 28 percent were for off-plan properties.

 

February 2021

February 2021 had 3,787 sales transactions worth AED 7.43 billion, 13.8 percent more than January 2021 in terms of volume and 8.9 percent more in terms of value. This brings the year to February total to 7,114 sales transactions worth AED 14.2 billion.In February, 67 percent of overall transactions were for secondary/ready properties and 33 percent were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 1,355 properties worth a total of AED 1.8 billion and the secondary market transacted 4,114 properties worth a total of AED 15.3 billion. Comparing this to January 2021, the number of off-plan transactions in February increased by 39.9% .

 

March 2021

In March, 63 percent of sales transactions were for secondary/ready properties and 37 percent were for off-plan properties. When we look at the volume of sales transactions, the off-plan market transacted 1,713 properties worth a total of AED 2.91 billion and thesecondary market transacted 2,930 properties worth a total of AED 8.02 billion. The total value of off-plan properties when comparing March 2021 to February 2021 has increased by 70 percent and secondary properties have increased by 41 percent.

 

April 2021

April 2021 had the highest total sales transaction value since March 2017 in excess of AED10.98 billion. This is the highest value of property transactions in four years. April 2021 had 4,382 transactions worth AED 10.98 billion, 4.2 percent more than March 2021 in terms of volume and 0.6 percent more in terms of value. This brings the year to April total to 16,577 transactions worth AED 36.12 billion.

In April 2021, 60 percent of sales transactions were for secondary/ready properties and 40 percent were for off-plan properties. 

Comparing this to March 2021, the number of off-plan sales transactions in April increased by 12.9 percent, the highest in 14 months and the secondary/ready property transactions decreased for the first time in 11 months by 0.92 percent.

 

May 2021

May 2021 had the highest total sales transaction value since March 2017 in excess of AED11.11 billion. This is the highest value of property transactions in four years.

May 2021 had 4,429 sales transactions worth AED 11.11 billion, 1.4 percent more in terms of value. This brings the year to date total to 20,989 transactions worth AED 47.19 billion.

In May 2021, 62 percent of all transactions were for secondary/ready properties and 38 percent were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 1,674 properties worth a total of AED 2.58 billion and the secondary market transacted 2,755 properties worth a total of AED 8.53 billion. Comparing this to April 202

 

June 2021

In June, 6,388 transactions worth Dhs14.79bn were recorded, 44.33 per cent more than May 2021 in terms of volume and 33.2 per cent more in terms of value. However, last month’s volumes increased 173.46 per cent compared to June 2020 and 204.55 per cent in terms of value.In June 2021, 62.2 per cent of all transactions were for secondary/ready properties and 37.8 per cent were for off-plan properties. The off-plan market transacted 2,418 properties worth a total of Dhs3.5bn and the secondary market transacted 3,970 properties worth a total of Dhs11.29bn.