Dubai Land: 2021 culminated in its record performance by recording the highest annual value of sales in the history of Dubai

The past year 2021 showed an exceptional performance for the Dubai real estate market, supported by the results and numbers that it achieved last December, whether in terms of real estate sales or the numbers of the monthly index. Last December witnessed the registration of real estate sales that amounted to 5,601 sales, worth 15.68 billion dirhams, which contributed to the rise in real estate transactions during 2021. To more than 84,196 transactions worth 300 billion dirhams, which is the highest annual value ever in the history of the emirate.

Last December also witnessed the registration of the total index of 1,156 points at a price of 1,115,937 dirhams, which makes it the highest since February 2019 in terms of index numbers and the highest in terms of value since August 2018. This is according to the data of the 22nd edition of the official Dubai selling price index, which it launched.” Dubai Lands" in cooperation with "Property Finder".

The data of the index - which is taken from 2012 as the base year, from January 2012 as the base month and from the first quarter 2012 as the base quarter... that 2021 ended its results with record numbers that will reflect positively on 2022, which is the first year in our journey towards the next fifty years, which During which Dubai and the UAE seek to build the best economy in the world.

Last December, the total monthly index recorded 1,156 points at a price of 1,115,937 dirhams, after the monthly index for apartments recorded 1,182 points at 1,000.253 dirhams, while the monthly index for villas / townhouses recorded 1,167 points at 1,990.496 dirhams.

In turn, the overall quarterly index for the fourth quarter of last year scored 1,181 points at a price of 1,118,218 dirhams, after the quarterly index for apartments recorded 1,184 points at 1,000.054 dirhams, and the quarterly index for villas / townhouses recorded 1,204 points at 2,060,863 dirhams.

In terms of the year 2021 as a whole, the overall annual index recorded 1,193 points at a price of 1,133,776 dirhams, following the annual index of apartments recording 1,201 points at a price of 1,041,679 dirhams, and the recording of the villas / townhouse index of 1,198 points at a price of 1,961,679 dirhams.

The Dubai real estate market witnessed the registration of more than 84,196 transactions in 2021, with a value of 300 billion dirhams, which is the highest value ever for the real estate sector in the history of Dubai.

2021 also broke a 12-year record in terms of real estate sales value, with real estate sales worth 151.07 billion dirhams, while the total number of real estate sales during 2021 was also the highest since 2013 after recording 61,241 sales.

On the other hand, the secondary market/ready units in 2021 accounted for 59.6% of the total sales... while off-plan sales constituted 40.4%.

With regard to the volume of transactions, off-plan sales dealt with 24,761 properties with a total value of 45.5 billion dirhams, while 36,480 properties were sold in the secondary market with a total value of 105.56 billion dirhams, which is also the highest value of secondary market sales since 2008.

The year 2021 achieved a growth of 74.77% in the volume of sales and a growth of 110.19% in its value compared to 2020. To compare the results in a more professional manner, specifically before the outbreak of the “Covid-19” pandemic, we find that the year 2021 achieved a growth of up to 55.47% in the volume of sales transactions And 90.1% in value compared to 2019. While the fourth quarter of 2021 witnessed a total of 17,942 sales, worth 46.75 billion dirhams, which is the highest in terms of the number and value of sales since the fourth quarter of 2013.

The secondary market / ready units accounted for 55.9% of the total sales during the fourth quarter of 2021, and 44.1% for off-plan sales.

With regard to the volume of transactions, off-plan sales dealt with 7,913 properties with a total value of 16.92 billion dirhams, while 10,029 properties were traded in the secondary market, with a total value of 29.82 billion dirhams.

The fourth quarter of 2021 compared to the fourth quarter of 2020 also showed an increase in sales volume by 64.12% and an increase in value by 114.74 percent.. while the increase amounted to 47.53% and 97.59% in terms of volume and value, respectively, compared to 2019.

When comparing between the fourth quarter and the third quarter of 2021, it was noted that the volume of off-plan sales grew by 14.53% .. while sales of secondary / ready-made properties increased by 11.22% .. the value of off-plan sales transactions increased by 25.38% and the value of sales transactions for the secondary market increased by 3.36%.

This growth during the fourth quarter of 2021 contributed to it achieving the largest volume and value of both off-plan sales transactions in a single quarter since the first quarter of 2010.

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