Property Finder: Compared to the same month over the previous 8 years
August 2021 is the best-selling Dubai property since 2013
“Jumeirah Village Circle” is among the most prominent areas that have formed interest among dealers in the apartments category.
archival
A recent real estate report for the "Property Finder" electronic platform that specializes in classified real estate ads in the Middle East stated that the real estate market in Dubai returned to recording good growth levels during August 2021, commensurate with the growth rates it started since the end of 2020, after a relative calm witnessed in July 2021, which was interspersed with the Eid al-Adha holiday, with August recording the second largest number of real estate transactions completed after June 2021, since December of 2013.
done deals
The report, which "Emirates Today" obtained a copy of, indicated that August 2021 is considered the best for the residential real estate market in Dubai, compared to the same month, over the previous eight years, as it witnessed the completion of 5780 deals worth 14.97 billion dirhams.
The report showed that the total transactions completed since the beginning of 2021 until the end of last August, amounted to 37,537 deals, worth 88.12 billion dirhams, exceeding the value of real estate deals during the past eight months all the deals completed in 2020, when the sector recorded 35,401 deals worth 71.87 billion. dirhams, an increase of 22.61% in value.
"on chart"
The report pointed out that the secondary/ready market attracted 55% of the total deals last August, compared to 45% for the off-plan real estate market.
With regard to the volume of deals, the real estate market “on-plan” sales included 2,599 properties with a total value of 4.95 billion dirhams, which is the highest value of “off-plan” sales deals in the Dubai real estate market in more than 11 years, as the market did not witness this financial momentum in The real estate market has been on the scheme since the beginning of the 2009-2010 season, and the “secondary market” recorded the completion of 3,181 deals worth 10.02 billion dirhams.
Geographical distribution
According to the demand data, the sales of villas and townhouses during August 2021 were concentrated in the areas of “Arabian Ranches 3”, “Dubailand”, “Dubai South”, “Tilal Al Ghaf” and “DAMAC Hills”.
As for the most prominent areas that attracted the attention of dealers in the category of apartments during the same period, they included "Business Bay", "Jumeirah Village Circle", "Dubai Harbor", "Mohammed Bin Rashid City" and "Downtown Dubai".
People's trust
"The strong numbers that characterize Dubai, especially in the residential real estate market, confirm the high consumer and investor sentiment, in a clear indication of the confidence of individuals in investing in the sector, including foreign investors," said Lynette Sacheto, director of research and data at Property Finder. It is expected that growth will continue with the approach of the launch of the Expo 2020 Dubai.
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