The real estate market in the emirate is witnessing continuous growth and more investment attractiveness

«Dubai Lands»: 5780 real estate sales amounting to 14.9 billion dirhams during August

Searches for apartments were concentrated in areas including “Jumeirah Village Circle”.

archival

The real estate market in the Emirate of Dubai is witnessing continuous growth and more investment attractiveness, a few days before the launch of the largest international event in the region, the Expo 2020 Dubai, which is expected to cast a shadow on the real estate sector in the emirate, through further growth and recovery. .

The data of the 17th edition of the official sales price index in Dubai, which was launched by the Dubai Land Department, in cooperation with the “Property Finder” real estate company, indicates that August 2021 is the second highest month since December 2013 in terms of the number of real estate sales in one month, as It witnessed the registration of 5780 sales, worth 14.97 billion dirhams, to be the best month of "August" ever during the past 12 years.

indicator data

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, showed that the general monthly index in August 2021 recorded 1,096 points at a price of 1,041,825 dirhams, while the monthly index for apartments recorded 1,116 points at a price of 931,310 dirhams.

In turn, the monthly index for villas / townhouses scored 1,072 points at a price of 1,909.567 dirhams, to record a 1.20% increase in the general monthly index, while the monthly index for apartments and villas increased by 1.36% and 3.18%, respectively.

real estate sales

According to Dubai Land Department, last August's registration of 5,780 real estate sales contributed to the increase in the total number of real estate deals since the beginning of this year so far to 37,537 deals, with a value of 88.12 billion dirhams.

Thus, real estate sales during the first eight months of this year witnessed an increase of 22.61% in value, compared to real estate sales recorded in the year 2020 as a whole, which witnessed the registration of 35,401 deals worth 71.87 billion dirhams.

Ready and "on the map"

The “secondary market/ready units” accounted for 55% of the total sales during August 2021, while the “off-plan” sales accounted for 45%.

Given the overall percentage;

The “off-plan” sales increased by 5% on a monthly basis, at a time when the “Arabian Ranches 3” area acquired a third of the “off-plan” sales during August 2021.

Searches

The searches for villas / townhouses were concentrated in August 2021, according to demand data from the database of "Property Finder" in the areas: "Arabian Ranches 3", "Dubailand", "Dubai South", and "Tilal" Al Ghaf", and "DAMAC Hills 2".

Meanwhile, searches for apartments were concentrated in the same period in the areas: "Business Bay", "Jumeirah Village Circle", "Dubai Port", "Mohammed Bin Rashid City" and "Downtown Dubai".

Transaction volume

Off-plan sales dealt with 2,599 properties with a total value of 4.95 billion dirhams, and this is the highest value of “off-plan” sales transactions witnessed by the real estate market in Dubai in more than 11 years, as it was the last time that the market witnessed the injection of this large amount of money In “off-plan” real estate in October 2009, 3,181 properties were sold in the secondary market, with a total value of AED 10.02 billion during August 2021.

The total average value of sales in August 2021 increased to 2,589,938 dirhams, an increase of 1.57% compared to July 2021, following an increase in the average value of “secondary / ready market” transactions to three million, 149,857 dirhams, an increase of 5.91%.

On the other hand, the average value of off-plan sales decreased by 1.3% to 1,904,635 dirhams.

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