Dubai Land: Increasing activity after overcoming the repercussions of the Corona crisis

50.62 billion dirhams Dubai real estate sales in 9 months

The department confirmed that September was the month of recovery, especially for residential properties in Dubai.

Archives

The official sales price index in Dubai, issued by the Dubai Land Department, showed that the total sales transactions, since the beginning of this year until last September, rose to 24,473 deals, with a cumulative value of 50.62 billion dirhams.

The real estate market

In detail, the Dubai Land Department revealed, in a statement yesterday, in cooperation with "Property Finder", the sixth edition of the official sales price index in Dubai, as part of its keenness to provide the various parties in the real estate market with the latest data that monitor the performance of the market, and take This indicator is from 2012 the base year, January 2012 as the base month, and a quarter of the base is the first quarter of 2012.

The same indicator showed an increase in activity after overcoming the repercussions of the current crisis. This is evidenced by the registration of “Dubai Lands”, last September, 3,849 sale transactions, ie an average of 872 properties every seven days, with a total value of 8.943 billion dirhams.

The share of off-plan sales was 46%, while the remaining 54% was for secondary market sales, thus raising the total sales transactions to date to 24,473 deals, with a cumulative value of 50.62 billion dirhams since the beginning of this year.

Dubai Index

The Dubai total index reached 1095 points in September 2020, the apartments index reached 1153 points, the villas and homes index reached 998 points, the Dubai total index scored 1136 points in the third quarter of this year, the apartments index 1,197 points, the villas and townhouse index 983 points. .

Overview

The department confirmed that September was the month of recovery and the emergence of strong indications, especially for residential real estate in Dubai, and in the same month 3894 real estate sales transactions were recorded, far outperforming the previous month (August) by 55.3%, and it exceeded the previous July performance by 63.9%, and the total value of these transactions amounted to 8.943 billion dirhams, an increase of 89.5% over the month of August, and 39.1% higher than in September 2019.

The return of confidence in the market is shown again through the increase in sales on the map, in September, by 15%, compared to August of the same year, and its acquisition of 46% of the sales activities in September, compared with 54% for the actions of the secondary market, and when you look closely at the number of actions. With these two segments, it is evident that off-plan sales have achieved a growth of 129.2%, while disposals in the secondary market grew by 23.5% compared to the previous month, and the value of off-plan real estate sales increased by 155.7%, while the value of secondary real estate transactions increased by 155.7%. 74.2% compared to last August.

The department indicated that these results were fully consistent with the expectations of experts and researchers during the past few months, as the real estate sector boom came in the form of a strong vertical rebound with the results of September, especially when we started to see the same level of trading volume and values.

Third quarter

As for the third quarter of this year, a total of 8,675 real estate sales transactions were recorded, which is 55.1% higher than the second quarter of the same year, and the total value of transactions in the quarter reached 18.146 billion dirhams, an increase of 65% over the previous quarter. The total number of sales transactions for this year rose to 24,473, with a total value of 50.62 billion dirhams.

Off-plan sales

Details of the transactions for the third quarter indicate that the share of off-plan sales reached 37.3%, and the secondary market reached 62.7%, representing an increase of 21.7% compared to the second quarter of the same year.

3849

Sale acted in September, averaging 872 properties every seven days.

8.94

Billions of dirhams worth of sales transactions last September.

Follow our latest local and sports news, and the latest political and economic developments via Google news