Dubai Land Department: 6,983 pledges of allegiance were recorded, with a value of 18.2 billion dirhams

Dubai real estate achieves its highest monthly performance in 10 years in April

Total real estate sales price index shows healthy growth since June 2020. Archive

The real estate sector in the Emirate of Dubai achieved its highest monthly performance in 10 years, after recording 6,983 sales in April 2022, with a value of 18.2 billion dirhams, with a growth of 45.5% in terms of the number of sales, compared to April 2021, according to the data of the official index of selling prices and rents that Launched by the Dubai Land Department in cooperation with Property Finder.

Selling prices

The data of the official selling price index, which is taken from January 2012 as a base year, and from the first quarter of 2012 as a base quarter, showed that the general monthly index in April 2022 recorded about 1,273 points, with a value of 1,238,401 dirhams, while the monthly index for apartments scored about 1,331 points, with a value of 1,331 points. One million and 140 thousand and 201 dirhams, and the monthly index of villas / townhouses scored about 1.318 points, with a value of two million and 124 thousand and 828 dirhams.

Residential rentals

For his part, the general monthly index of residential rental performance scored 0.957 points during April 2022, at a value of 51,672 dirhams, while the monthly index for apartments scored 0.96 points, at a value of 47,578 dirhams, and the monthly index for villas / townhouses 0.872 points, with a value of 132,917 dirhams.

healthy growth

Overall, sales transactions continue to grow, exceeding the average monthly transactions for 2021;

Therefore, the overall sales price index is showing healthy growth since June 2020.

In turn, the secondary market for sales continues to acquire the largest share in the real estate market at a steady rate, as its share during April reached 60.32% in terms of the number of sales deals, and 70.7% in terms of value, in a way that shows the strength in the performance of the ready-made real estate market in terms of value and number Real estate deals, especially with regard to residential apartments, which represent about 79% of the total transactions, while “villas / townhouses” represent about 21%.

Outstanding performance

By comparing the general performance for the first four months of 2022 with the same period last year, it becomes clear, according to the data on an annual basis, that there is an outstanding performance for the total number of sales transactions, as 27,507 sales were recorded, compared to 16,341 in the same period last year. .

Lease contracts

On the other hand, the total lease contracts last April amounted to 41,810 registered lease contracts, of which 60.4% were new contracts, compared to 39.6% renewed contracts.

Annual contracts accounted for 79.5% of the total contracts, compared to 20.5% for non-annual contracts.

Lease contracts registered for residential purposes accounted for about 74% of the total contracts, while 25% were registered for commercial purposes.

April contracts

Compared with April 2021, the total rental contracts increased by 3.2%, while the number of new contracts increased by 8%, representing 60.4% of the total number of contracts, compared to 57.7% in April 2021.

The total number of annual lease contracts also increased from 72.9% in April 2021 to 79.5% in April 2022, while commercial lease contracts witnessed an increase of 4.23% during April 2022, representing 25% of the total lease contracts, compared to 20.77 percent in April 2021. .

By comparing the first four months of 2022 with the same period in 2021, the indicator concludes that the total lease contracts in terms of volume witnessed an increase of 6.47%, as it recorded 202,340 lease contracts, compared to 190,043 lease contracts in the same period of 2021.

Rental areas

The data showed that the most searched areas for apartment rents last April were: "Dubai Marina", "Downtown", "Business Bay", "Jumeirah Village Circle", "Jumeirah Lakes Towers".

Meanwhile, searches for rents of "villas/townhouses" were concentrated in the areas: "Dubai Hills Estate", "Jumeirah", "Al Barsha", "Arabian Ranches" and "The Springs".

sales territories

According to demand data from Property Finder's database, searches for apartments in April 2022 focused on sales in: "Dubai Marina", "Dubai Town Down", "Palm Jumeirah", "Business Bay", "Jumeirah Village Circle", "Jumeirah Beach Residence".

Searches for "villas / townhouses" were concentrated in the areas: "Dubai Hills Estate", "Palm Jumeirah", "Arabian Ranches", DAMAC Hills (Akoya by DAMAC), and The Springs.

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