Dubai real estate market has completed deals worth 31.08 billion dirhams since the beginning of Expo 2020
The real estate market has witnessed the completion of 12,352 deals since the launch of Expo 2020 in Dubai worth 31.08 billion dirhams, including 7,000 deals in the secondary/ready market worth 19.84 billion dirhams and 5,352 deals in the off-plan real estate market worth 11.24 billion dirhams, according to the latest report by Property Finder. .
The report, which "Emirates Today" obtained a copy of, indicated that the Dubai real estate market recorded the highest monthly sales in eight years in November 2021 thanks to the positive impact of Expo 2020 Dubai, which was launched 67 days ago, on the market.
November 2021 witnessed the completion of 7,000 sales transactions worth 17.96 billion dirhams, marking the best results during the month of November ever since the government began publishing market data publicly.
The total sales transactions since the beginning of this year until today reached 55,651 with a value of 135.4 billion dirhams.
The value of real estate transactions during only 11 months of 2021 exceeded all transactions completed in the previous year by 88.39%, registering the highest annual sales since 2014.
Last October, the secondary/ready market attracted 54% of the total deals, compared to 46% in the off-plan real estate market.
With regard to the volume of transactions, the real estate market sales on the scheme included 3,219 properties, with a total value of 6.84 billion dirhams.
The finished real estate market witnessed the completion of 3,781 sales transactions worth 11.12 billion dirhams.
Comparing November and October 2021 on a monthly basis, the value and volume of off-plan real estate market sales increased by more than 50%, and the secondary market increased by more than 17.4%;
Its value is 27.6%.
The value of the total completed deals increased by 36.9% with an increase in their volume by 30.8% compared to October.
November 2021 witnessed an increase of 80.4% in the volume of transactions;
And by 138.8% in its value compared to the same month last year.
In a more realistic comparison, November 2021 saw a 45.4% increase in deal volume;
And by 104.2% in its value compared to the same month in 2019.
Lynette Satchetto, Director of Research and Data at Property Finder, said: “The sector’s sales continue their upward trend on a monthly basis, with November 2021 seeing the largest number of sales since the launch of Expo 2020 was announced in December 2013. And here arises the question about the effects of Expo 2020 On the real estate market, we are being answered by the current trends in the market.”
“The year 2021 saw the highest off-plan sales since 2009 when off-plan real estate sales peaked in Dubai. The data clearly shows that investors and consumers are confident in Dubai’s future that is underpinned by proactive government initiatives, attractive real estate projects and visions for the emirate,” added Sacheto.
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