The highest value in 4 years ... and apartment sales account for 69% of the total

Dubai records 4,832 real estate sales of 10.98 billion dirhams during April

  • Secondary market sales account for 60% of total sales during April and 40% for off-plan sales.

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  • Last April, the number of sales grew by 4.2% compared to March.

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The real estate market in the emirate of Dubai continues to achieve record numbers in the number and value of real estate deals, thus enhancing the emirate's global position as the best real estate investment destination, and the most attractive and flexible, as the 14th version of the official selling price index in Dubai, launched by the Land and Property Department In Dubai, in cooperation with “Property Finder”, the number of real estate deals witnessed last April amounted to 4,832 real estate sales, with a total value of 10.98 billion dirhams, which is the highest value in four years, specifically since March 2017.

growth

The index data taken from 2012 as the base year, from January 2012 as the base month, and from the first quarter 2012 quarterly, showed that April 2021 achieved a growth in the number of real estate sales by 4.2% compared to March 2021, and also achieved a growth in the value of sales by 0.6 % During the same period, bringing the total number of real estate sales since the beginning of this year until the end of last April to 16,577 sales of 36.12 billion dirhams.

Sales

In a statement, Dubai Land stated that real estate sales amounting to two million dirhams accounted for 70% of total sales in April 2021, while sales, ranging between two million to five million dirhams, accounted for about 23% of the total, and 4 % For sales of between five million and 10 million dirhams, and finally 3% for sales of more than 10 million dirhams.

The secondary market

According to data published by “Dubai Land” yesterday, the secondary market / ready-made units accounted for 60% of total sales in April 2021, while sales on the map accounted for 40%, while apartment sales accounted for 69% of the total, and 31 % Of sales of villas / "townhouses".

With regard to the volume of transactions, the sales on the map dealt with 1934 properties with a total value of 3.09 billion dirhams, while 2898 properties were traded in the secondary market with a total value of 7.89 billion dirhams.

reasonable prices

Comparing these results with the month of March, it is clear that sales on the map increased by 12.9%, which is the highest rate in 14 months, while secondary market sales decreased by 0.92%, for the first time in 11 months.

Since the beginning of the outbreak of the "Covid-19" pandemic, Dubai has witnessed a decline in apartment prices, partly due to the entry of more affordable units to the market, an increase in the supply of ready-made apartments, and an increase in demand for villas / "townhouses." ».

Sales of villas and apartments

In addition, «Mohammed bin Rashid City» acquired 18.5% of the total sales of villas / «townhouses» during April 2021, followed by «Dubailand» by 10.3%, then «Dubai Hills Estate» by 9.4%, and from Then "Rukan" by 5%, and "Town Square" by 4.9%.

As for apartments, the "Dubai Marina" area accounted for 8.5% of the total, followed by Jumeirah Village Circle by 8.4%, Jumeirah Lake Towers by 7.6%, then "Downtown Dubai" by 7.3%, followed by "Business Bay". By 5.4%, according to research data from the company, Propertyfinder.

Monthly index

The Dubai Land Department reported that the general monthly index recorded last April, 1.072 points, at a price of one million and 2667 dirhams. »0.992 points, at a price of one million 768 thousand and 908 dirhams.

• Map sales rose 12.9%, at the highest rate in 14 months.

• 16.5 thousand real estate pledges from the beginning of 2021 until the end of April, worth 36.12 billion dirhams.

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