«Dubai Lands»: 6388 real estate sales amounting to 14.79 billion dirhams

Dubai real estate records the highest sales value in 8 years in June

  • Secondary market/ready units accounted for 62.2% of total sales in June 2021. Archive

  • The real estate sector in Dubai has maintained an increasing pace of performance.

    archival

picture

The real estate sector in the Emirate of Dubai has maintained an increasing pace of performance, reflecting the vitality, flexibility and attractiveness of the Dubai real estate market, to record again in June 2021, in terms of the value of real estate sales, which amounted to 14.79 billion dirhams, which is considered the highest value of sales in eight years. , specifically since December 2013, according to the data of the 16th edition of the official selling price index in Dubai, which was launched by the Dubai Land Department, in cooperation with the Property Finder platform.

According to these data, the total number of real estate sales during the same period reached 6,388, so that June 2021 achieved a growth of 44.33% in terms of the number of sales and 33.2% in terms of value, compared to the previous May 2021.

Outstanding performance

According to the issued data, the results achieved in June 2021, in addition to the number of sales that were achieved in the months of last April and May, which amounted to 4,824 and 4,426 pledges, respectively, contributed to achieving a very distinguished performance for the second quarter of this year, which is considered the highest on a quarterly basis. In terms of the number of sales since the fourth quarter of 2013, the total number of sales reached 15,638, with a total value of 36.86 billion dirhams, achieving a growth of 33.26% in terms of the number of sales and 46.76% in terms of value, compared to the first quarter of 2021.

Sustainability of growth

The data indicate that the total number of sales since the beginning of this year until the end of June 2021 reached 27,373, with a value of 61.97 billion dirhams, while the entire year 2020 witnessed the registration of 35,041 real estate sales, worth 71.87 billion dirhams, which confirms the sustainability of the pace of growth. The high performance of the real estate sector during 2021.

When we look at the results achieved during June 2021 and the second quarter in general, and compare them with similar periods in 2019 and 2020, we conclude that the real estate market in Dubai witnessed significant growth, and was able to make the “Covid-19” pandemic an accelerating factor, which contributed to accelerating the pace of growth of the real estate sector in the emirate.

June 2021

According to the results of the index, June 2021 achieved a growth of 173.46% in terms of the number of sales, and 204.55% in terms of value compared to June of 2020, while the growth rate reached 140.87% in terms of the number of sales, and 179.13% in terms of value compared to June of 2019.

In turn, the secondary market/ready units accounted for 62.2% of the total sales, while off-plan sales constituted 37.8%.

With regard to the volume of sales, off-plan sales dealt with 2,418 properties, with a total value of 3.5 billion dirhams, while 3,970 properties were traded in the secondary market, with a total value of 11.29 billion dirhams.

Comparing these results with May 2021, it is clear that the number of off-plan sales increased in June by 44.4%, while the number of secondary market sales increased by 44.26%.

• The real estate market in Dubai makes «Covid-19» a factor accelerating the growth of the sector in the emirate.

• June 2021 records a growth of 44.33% in terms of the number of sales, and 33.2% in terms of value.

Growth in the number of sales and "value" during the second quarter

The second quarter of 2021 showed a growth of 183.4% in terms of the number of sales and 237.79% in terms of value, compared to the second quarter of 2020, while it achieved a growth of 78.27% in terms of the number of sales and 102% in terms of value, compared to In the second quarter of 2019.

In turn, the secondary market/ready units accounted for 61.5% of the total sales, while off-plan sales constituted 38.5%.

With regard to the volume of sales, off-plan sales dealt with 6025 properties, with a total value of 9.17 billion dirhams, while 9,613 properties were traded in the secondary market, with a total value of 27.68 billion dirhams.

Comparing these results with the first quarter of 2021, we find that the number of off-plan sales increased by 53.93%, while the number of secondary market sales increased by 22.91%.

According to the demand data from the "Property Finder" database, searches for villas / townhouses in the second quarter of 2021 were concentrated in the areas: Mohammed Bin Rashid City, "Dubai Hills Estate", "Dubai Land", "Green Community", and Town Square.

At the same time, searches for apartments were concentrated in the areas: Jumeirah Lakes Towers, Dubai Marina, The Meydan, Jumeirah Village Circle, and Downtown Dubai.

general indicator

The index data, which is taken from 2012 the base year, from January 2012 the base month, and from the first quarter 2012 the base quarter, indicate that the general monthly index in June 2021 recorded 1.07 points at a price of one million and 9 thousand and 539 dirhams, while the monthly index for apartments recorded 1.088 Point at a price of 904 thousand and 920 dirhams.

In turn, the monthly index of villas / townhouses scored 1,013 points at a price of 1,822,343 dirhams.

For its part, the general quarterly index scored 1,118 points in the second quarter of this year at a price of 1,233,552 dirhams, while the quarterly index for apartments scored 1,118 points at a price of 927,442 dirhams.

The quarterly index of villas / townhouses scored 1,076 points at a price of 1,880,153 dirhams.

Most Searched

Demand data from Property Finder's database showed that searches for villas / townhouses in June 2021 were concentrated in the areas of "Green Community", Mohammed bin Rashid City, "Dubai Hills Estate", "Arabian Ranches 3", and Akoya.

Meanwhile, searches for apartments in the same period were concentrated in the areas: The Meydan, JLT, Dubai Marina, Business Bay, and Downtown Dubai.

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

Keywords: