4,429 real estate sales amounted to 11.11 billion dirhams recorded during May 2021
«Dubai Lands»: Dubai real estate achieves the highest value of real estate deals in 4 years
Apartments sales accounted for 77% of the total during May, compared to 23% for villas / townhouses.
archival
The real estate market in the Emirate of Dubai has achieved a new record, the highest in terms of the value of real estate transactions in four years, consolidating the emirate's attractiveness and flexibility in attracting real estate investments, and confirming that Dubai is one of the best global real estate destinations, and the most capable of adapting to various conditions and global developments. .
real estate sales
The data of the 15th edition of the official selling price index in Dubai, launched by the Dubai Land Department, in cooperation with “Property Finder”, indicates that May 2021 succeeded in achieving the highest total value of real estate sales since March 2017, exceeding 11.11 billion dirhams, with a growth rate of 11.11 billion dirhams. 1.4% compared to the previous April.
The number of real estate deals in May reached 4,429 deals, bringing the total real estate deals since the beginning of this year until the end of May to 20,989 real estate deals with a total value of 47.19 billion dirhams.
The index data, which is taken from 2012 as the base year, from January 2012 as the base month, and from the first quarter 2012 as the base quarter, indicates that the general monthly index in May 2021 recorded 1,071 points at a price of one million and 7,529 dirhams, while the monthly index for apartments recorded 1,085 points at a price 904 thousand and 476 dirhams, and the monthly index for villas / townhouses is 0.993 points, at a price of one million and 773 thousand and 164 dirhams.
sales movement
According to the index data, the growth in the number of real estate sales on an annual basis, specifically compared to May 2020, reached 215%, while the growth in the value of sales during the same period was about 357 percent.
In turn, sales on the map witnessed a growth of 74%, while the volume of growth in sales of "secondary market / ready units", which witnessed great demand, reached 466% compared to May 2020.
Top Regions
According to research data from Property Finder, the "Mohammed Bin Rashid City" area accounted for 10.1% of the total sales of villas / townhouses in May 2021, followed by the "Dubai Land" area with 7.6%, and then "Dubai Hills Estate" By 7.4%, the “Arabian Ranches 3” area acquired 6.5%, and “Town Square” 6.4%.
As for apartments, the “Jumeirah Lakes Towers” area accounted for 10.8% of the total sales, followed by “Dubai Marina” 9.2%, then “Jumeirah Village Circle” 8.6%, and “Downtown Dubai” 7.4%, while “Downtown Dubai” accounted for 7.4%. The "Business Bay" area accounts for 5.7% of total sales.
According to the demand data from the database of the "Property Finder" company, searches for villas / townhouses in May 2021 were concentrated in the areas: "Dubai Hills Estate", Arabian Ranches, Palm Jumeirah, "DAMAC Hills", and Mohammed bin Rashid City.
At the same time, searches for apartments were concentrated in the areas: Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay, and Jumeirah Village Circle.
Ready units and “on the map”
The “secondary market/ready units” accounted for 62% of the total sales during May 2021, while the “off-plan sales” accounted for 38%.
Apartment sales accounted for 77% of the total, compared to 23% for villas/townhouse sales.
With regard to the volume of transactions, "sales on the map" dealt with 1674 properties, with a total value of 2.58 billion dirhams, while 2755 properties were traded in the secondary market, with a total value of 8.53 billion dirhams.
• 20,989 real estate sales since the beginning of the year until the end of May, with a value of 47.19 billion dirhams.
• 1.4% growth in the total value of real estate sales during May on a monthly basis.
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