Included sales of 55.5 billion dirhams

Dubai real estate actions to the highest level in a single quarter since 2010

The first quarter of 2022 witnessed the registration of 160,53 thousand lease contracts.

From the source

Moasher, the official indicator of sales and rent performance in Dubai, launched by the Dubai Land Department in cooperation with Property Finder, stated that the real estate market in Dubai witnessed the highest number of real estate transactions recorded in a single quarter since 2010, and the largest since The first quarter of 2014, with a total of 25,972 real estate deals in the first quarter of 2022.

real estate market

In detail, “Moasher” data continues to provide important analyzes and enhance transparency in the Dubai real estate market, as it reflects the remarkable growth and continuous upward trend in it.

The general monthly sales index recorded 1249 points during March 2021, and the value of the index amounted to one million and 215 thousand and 672 dirhams, while the monthly residential apartments index recorded 1285 points, and the value of the index amounted to one million and 100 thousand and 294 dirhams, and the monthly index of villas and townhouses scored 1297 points. The value of the index amounted to two million and 100 thousand and 519 dirhams.

The general monthly rent index recorded 0.950 points during the month of March 2021, and the value of the index reached 51.32 thousand dirhams, while the monthly residential apartments index recorded 0.953 points, and the value of the index amounted to 47.29 thousand dirhams, and the monthly index of villas and townhouses scored 0.865 points, and the value of the index 131.31 thousand dirhams.

The general quarterly index of sales recorded 1,251 points during the first quarter of 2022, and the value of the index amounted to one million and 186 thousand dirhams, while the quarterly apartments index recorded 1.26 points, and the value of the index amounted to one million and 67 thousand and 385 dirhams, and the index of villas and townhouses recorded Quarterly 1.234 points, and the value of the index amounted to two million and 94 thousand and 633 dirhams.

rent index

The general quarterly index of rents scored 0.947 points during the first quarter of 2022, and the value of the index amounted to 51.17 thousand dirhams, while the quarterly apartments index scored 0.967 points, and the value of the index amounted to 46,952 thousand dirhams, and the quarterly index of villas and townhouses scored 0.851. point, and the value of the index amounted to 131,639 thousand dirhams.

The Dubai real estate market witnessed the largest number of real estate sales recorded in seven years, with 8,399 real estate sales, worth 22.58 billion dirhams, in March 2022. When comparing the performance of March 2022 with the same period 2021, the results indicate a growth rate of 83% in the total number of sales deals and a growth of 109% in terms of value.

Secondary or ready-made properties during March 2022 recorded 60.16% of the total sales deals, compared to 40.4% in the off-plan real estate market sales, representing 39.84% of the total sales deals.

The month of March 2022 recorded more than 44.78 thousand lease contracts, of which 60.28% were new contracts, 39.72% were renewed contracts, 78% of the contracts were annual and 21% of them were non-annual.

First Quarter

The first quarter of 2022 witnessed the registration of 25,972 thousand real estate transactions, which is the highest number of real estate transactions recorded in a single quarter since 2010. The first quarter witnessed the registration of 20,53 thousand real estate sales transactions with a total value of 55.51 billion dirhams.

As for the volumes of real estate sales during the first quarter, the off-plan real estate market recorded 8,616 sales, with a total value of 16.12 billion dirhams, while the secondary market recorded 11.923 thousand sales, with a value of 39.39 billion dirhams.

The first quarter of 2022 witnessed the registration of 160,53 thousand lease contracts, of which 51.89% are new contracts and 48.1% are renewed contracts, which represents an increase of 4% in the volume of contracts compared to the last quarter of 2021. Annual contracts in the first quarter represented 79.95%, while Non-annual contracts accounted for 20.04%.

Ejari records revealed the names of the areas that witnessed the registration of the largest number of lease contracts during March 2022, which included Jebel Ali First area with 6,259 contracts, followed by Al Warsan First with 6,224 contracts, Business Bay with 5,056 contracts, Naif with 5,011 contracts, and Al Karama with 5,007 contracts. .

Most popular areas

Property Finder data revealed that Dubai Marina was the most sought-after in searches for apartments for sale in the first quarter of 2022, followed by Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle.

Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, DAMAC Hills - Akoya by DAMAC and The Springs topped the list in terms of searches for villas and townhouses.

Dubai Marina was the most popular in searches for apartment rents in March 2022, followed by Downtown Dubai, Business Bay, Jumeirah Village Circle and JLT.

Dubai Hills Estate, The Springs, Al Barsha and Arabian Ranches came out on top in terms of searches for villas and townhouses.

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