It recorded 6,989 sales, worth 17.95 billion dirhams

«Dubai Lands»: November 2021, the best performance in 8 years

Total sales as of November amounted to 55.64 thousand deals worth 135.4 billion dirhams.

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According to reports that monitor the state of the Dubai real estate market, “Expo 2020 Dubai” leaves huge positive effects on the market movement, especially since the emirate has enjoyed unprecedented promotion since the launch of this event in early October.

This activity was directly reflected in the performance, as it is observed that an upward cycle is emerging that is likely to continue in the coming year.

The Dubai Land Department, in cooperation with Property Finder, monitored this trend by launching the 21st edition of the official sales price index in Dubai (the index), which takes 2012 as the base year, and from January 2012 the base month, and from the first quarter 2012 the base season.

The total monthly index recorded in November 2021 an amount of 1,156 points, at a price of (one million and 115 thousand and 937 dirhams), while the monthly index for apartments recorded 1,182 points at a price of (one million and 253 thousand dirhams), while the monthly index of villas and townhouses recorded 1.167 points, at a price The amount of (one million and 990 thousand and 496 dirhams).

In terms of the overall index numbers, November 2021 was the highest month since March 2019, and the highest in terms of the index value since November 2018. As for the numbers related to apartments, it was the highest in the index numbers since May last year, and the same was true for the index value since August 2020. The villas and townhouses index showed the best performance, as November 2021 recorded the highest number on the index since March 2019, and the highest in value since January 2019.

After more than 70 days have passed since the launch of "Expo 2020 Dubai", it appears that this largest exhibition in the world is having positive effects on the Dubai real estate market, as evidenced by the fact that November 2021 showed the highest monthly sales figures for eight years.

The aforementioned month witnessed the conclusion of 6,989 sales deals worth 17.95 billion dirhams, making it the best among the previous November months ever since January 2014.

In addition to this month, the total sales until November amounted to 55,64 thousand deals, with a value of 135.4 billion dirhams.

And the value of sales in just 11 months increased by 88.37% compared to the whole of 2020, with the highest annual number of sales since 2014.

In November 2021, 54% of all sales came from secondary (ready) properties, while the remaining 46% were achieved from off-plan sales.

According to the volume of sales, it appears that the sales market on the map has sold 3,217 properties, with a total value of 6.84 billion dirhams, while the ready-made unit market completed 3,772 sales worth 11.11 billion dirhams.

When comparing the period from October 2021 to November 2021 on a monthly basis, it appears that the value and volume of sales on the map increased by more than 50%, while the volume of the secondary market increased by more than 17%, and the value by 27.43%.

When analyzing the total deals, it appears that the total value of sales increased by 36.82%, and the volume by 30.59% compared to October.

By comparing the general monthly performance of November 2020, we find that November 2021 achieved an increase in sales by 80.1%, while the value increased by 138.7%.

For a more realistic view, a comparison can be made to November 2019, to show that November 2021 achieved an increase in sales by 45.2%, and was higher in value by 104.1%.

• "Expo 2020 Dubai" leaves huge positive effects on the movement of the Dubai real estate market.

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