Dubai real estate market records Dhs 13.12 billion in October

0


Coinciding with the launch of Expo 2020 Dubai, the largest global event and the first of its kind in the Middle East, the Dubai real estate market continued to record further achievements and growth in the area of ​​sales transactions. real estate.

According to data from the 20th edition of Mo’asher, the official Dubai Selling Price Index launched by the Dubai Land Department (DLD) in partnership with Property Finder, October 2021 recorded 5,352 sale transactions worth of 13.12 billion Dhs, which makes it the best month of October on record for eight years.

The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being the first quarter of 2012.

The index indicates that including October 2021, the cumulative total for the year is 48,651 sales transactions worth 177.44 billion Dhs. In just 10 months, the value of real estate sales transactions is 63.4% higher than in 2020 as a whole and is already the highest annual turnover since 2015.

In October 2021, the overall monthly index recorded 1.132 and a price index of 1,086,969 Dhs, the monthly apartment index recorded 1.16 and a price index of 974,621 Dhs and the monthly index of villas / townhouses registered 1.13 and a price index of 1,962,448 Dhs.

October 2021 in terms of aggregate indices was the highest since June 2019 and the highest for the value of the index since March 2019.

Regarding the number of apartments, they are the highest in number of indices since August 2020 and in index value since September 2020. The villa / townhouse index obtained the best results, October 2021 being the highest for the index since April 2019 and the highest in Index value since February 2019.

October 2021 recorded 5,352 sales transactions worth Dhs 13.12 billion, making it the best October on record in the past eight years. Including October 2021, this brings the cumulative total for the year to 48,651 sales transactions worth 177.44 billion Dhs. In just 10 months, the value of real estate sales transactions is 63.4% higher than in 2020 as a whole and is already the highest annual turnover since 2015.

The row villa index has increased by 14% over the past six months. Since the start of the pandemic, the demand for villas / townhouses has increased exponentially, resulting in increased sales of villas / townhouses, breaking records for top-selling from July 2020 and increasing from month to month.

In October 2021, 60% of all transactions involved secondary / ready-made properties and 40% involved off-plan properties. When we look at the volume of sales transactions, the off-plan market has processed 2,133 properties with a total value of 4.4 billion Dhs.

The loan market carried out 3,219 sales transactions worth 8.72 billion Dhs. Breaking this down further by developer sales and individual sales, developers had a total of 3,395 deals worth Dh8.08 billion, which included both ready and off-plan properties, while individual sales accounted for 1,957 transactions worth 5.03 billion Dhs according to data from the data search tool. to suggest.

According to proprietary demand data from Property Finder, the top areas of transactions in October 2021 for villas / townhouses in June 2021 were Damac Hills 2, Nad Al Sheba, The Springs, Dubai Hills Estate and Arabian Ranches. As for apartments for the same period, the main areas of interest were Dubai Marina, Business Bay, Jumeirah Village Circle, Downtown Dubai and Jumeirah Lake Towers.

For off-plan properties, the main trading areas in October 2021 for villas / townhouses in June 2021 were Arabian Ranches 3, Tilal al Ghaf, The Valley, Dubai Land and Mohammed Bin Rashid City. As for apartments for the same period, the main areas of interest were Dubai Port, Mohammed Bin Rashid City, Dubai Creek Port, Business Bay and Downtown Dubai.


Share.

About Author

Comments are closed.