It saw its highest monthly sales in 8 years last November
Dubai records real estate deals worth 31 billion dirhams since the launch of "Expo 2020"
Last November saw the completion of 7,000 real estate sales in Dubai.
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The real estate market in Dubai recorded the completion of 12,352 deals worth 31.08 billion dirhams, since the launch of the “Expo 2020 Dubai” exhibition until the end of last November, including 7,000 deals in the secondary market (ready properties) worth 19.84 billion dirhams, and 5,352 deals in the off-plan real estate market. With a value of 11.24 billion dirhams.
A report by Property Finder, a copy of which was obtained by Emirates Today, showed that Dubai real estate witnessed the highest monthly sales in eight years in November 2021, thanks to the positive impact of the Expo on the market.
The report pointed out that last November witnessed the completion of 7,000 real estate sales transactions worth 17.96 billion dirhams, thus being the best results during the month of November ever.
The total sales transactions from the beginning of this year until the end of November reached 55,651 deals, worth 135.4 billion dirhams, while the value of real estate deals during the past 11 months exceeded the value of all transactions completed in 2020 by 88.39%, registering the highest annual sales since 2014. .
Last October, the secondary market attracted 54% of the total deals, compared to 46% in the off-plan real estate market.
With regard to the volume of deals, the real estate market sales on the scheme included 3,219 properties, with a total value of 6.84 billion dirhams, while the ready-made real estate market witnessed the completion of 3,781 sales transactions, worth 11.12 billion dirhams.
By comparing the months of November and October 2021 on a monthly basis, the value and volume of real estate market sales on the scheme increased by more than 50%, and the volume of the secondary market increased by more than 17.4%, and its value by 27.6%.
2.3 billion dirhams transactions in a day
Yesterday, real estate transactions in the Dubai Land Department amounted to more than 2.3 billion dirhams, as the department witnessed the registration of 438 allegiances worth 1.03 billion dirhams, including 33 sales of land with a value of 89.13 million dirhams, and 405 sales of apartments and villas with a value of 937.4 million dirhams, while mortgages were recorded 1.25 billion dirhams, while donations witnessed the registration of 20 gifts, worth 29.5 million dirhams.
• 135.4 billion dirhams real estate sales in Dubai from the beginning of 2021 until the end of November.
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