The highest number in 16 months ... and the most traded in one month from June 2015

Dubai witnesses 4,643 real estate sales of 10.93 billion dirhams in March

Ready units accounted for 63% of total real estate sales in Dubai last month.

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Last March achieved a record number of real estate deals 16 months ago, reaching 4,643 sales of 10.93 billion dirhams, registering a growth of 23% in terms of number and 47% in value, compared to last February.

This is according to the 13th version of the official selling price index in Dubai, launched by the Dubai Land Department, in cooperation with the company "Property Finder".

The data of the index, which is taken from 2012 as the base year, from January 2012 as the base month, and from the first quarter 2012 quarter base, showed that the total number of real estate sales during the first quarter of this year reached 11,753 real estate sales, with a value of 25.15 billion dirhams, to witness Thus, the first quarter increased in real estate sales transactions in general by 6%, compared to the fourth quarter of last year, after the secondary market sales recorded a growth of 16%, while sales on the map recorded a decline of 7%.

When compared to the first quarter of last year, the data indicated that the first quarter of 2021 achieved a growth of 15%, after recording an increase of 70% for secondary market properties, and a 29% decline in sales on the map.

Apartments and villas

According to the data revealed by "Dubai Land", the secondary market / ready-made units acquired 63% of the total sales during March 2021, which is the highest number of this type of real estate in one month since June 2015, while the sales formed on the map. 37%, while apartment sales accounted for 71% of the total, and 29% for townhouse sales.

With regard to the volume of transactions, the sales on the map dealt with 1713 properties, with a total value of 2.91 billion dirhams, while 2930 properties were traded in the secondary market, with a total value of 8.02 billion dirhams.

Comparing these results with last February, it is clear that sales on the map increased by 37%, while the secondary market sales increased by 16%.

Transaction value

For the month of March 2021, the most important factor was that the average value of transactions for real estate on the map increased by 24.6% on a monthly basis, while real estate in the secondary market rose by 21.5%.

The total value of real estate on the map when compared between March 2021 and February 2021 increased by 70%, while the total value of real estate in the secondary market increased by 41%.

Regions

The demand data from the private base in the "Property Finder" showed that "Mohammed Bin Rashid City" acquired 11.5% of the total sales of villas, "Town House", during March 2021, followed by Tilal Al Ghaf by 10.1%, then "Dubai Hills Estate" by 9.9%. Then, "Nad Al Sheba" by 8.2%, and finally "Rukan" 5.8%.

As for apartments, the Business Bay area accounted for 10.7% of total sales, followed by “Dubai Marina” by 9.3%, then “Jumeirah Village Circle” by 8%, and then “Jumeirah Lakes Towers” ​​by 7.6%, and “ Palm Jumeirah »by 7.2%.

During the past month, searches for villas "Townhouses" were concentrated in the areas of "Dubai Hills Estate", "Arabian Ranches", "Palm Jumeirah", "Mohammed Bin Rashid City" and "Damac Hills". Search for apartments in the same period in the areas of Dubai Marina, "Downtown Dubai", "Palm Jumeirah", "Business Bay" and "Jumeirah Village Circle".

Price index

Last March, the general monthly index recorded 1,085 points, at a price of one million 16 thousand and 541 dirhams, while the monthly index for apartments scored 1,129 points at a price of 944 thousand and 982 dirhams, while the monthly index for villas "townhouse" scored 0.982 points at a price of one million and 745 thousand and 336 dirhams. .

As for the first quarter of 2021, the general index scored 1.095 points, at a price of one million and 9901 dirhams, while the quarter index for apartments scored 1,133 points, at a price of 945 thousand and 81 dirhams, while the quarterly index for villas "Townhouse" scored 0.922 points, at a price of one million and 789 One thousand and 909 dirhams.

• The first quarter of 2021 witnessed a record 11.7 thousand pledges of 25.15 billion dirhams.

• The average value of transactions for properties on the map increased by 24.6% last month.

• 71% of last month's sales were acquired by apartments.

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