Dubai had the biggest value of property sales deals in the last 12 years in 2021
Dubai saw the greatest value of property sales deals in 12 years in 2021, at Dhs151.07 billion worth of homes sold over the course of the previous year.
As per Realty Tracker, the overall number of real estate sales transactions last year – which totaled at 61,241 – was also the biggest since 2013.
During 2021, supplementary homes accounted for 59.6% of all transactions, while off-plan properties accounted for 40%. By comparison to other companies, the off-plan market processed 24,761 homes for Dhs45.5 billion, while the second-hand market transacted36,480 units worth Dhs105.56 billion.
By comparison to 2020, sales trading volume increased by 74.77 percent and worth increased by 110.19 percent in 2021. From last year market grew by 55.47 percent and the value increased by 90.10 percent in comparison to 2019.
4th quarter of 2021
In Q4 2021, there were 17,942 transactions totalling Dhs46.75 billion. Since Q4 2013, both the number and value of transactions have been at an all-time peak.
During Q4 2021, secondary/ready properties accounted for 55.9% of all transactions, while off-plan properties accounted for 44.1 percent. A secondary market transacted 10,029 homes for a total of Dhs29.82 billion, while the off-plan market transacted 7,913 properties worth approximately of Dhs16.92 billion.
While comparing the fourth quarter of 2021 to the fourth quarter of 2020, there was a 64.12% rise in sales transaction volume and a 114.74 percent rise in value.
Overall number of off-plan deals climbed by 14.53 percent from Q4 to Q3 2021, while secondary/ready property sales increased by 11.22 percent. The value of off-the-plan sales climbed by 25.38 percent, while the value of secondary sales increased by 3.36 percent.
“Given the fact that many people opted to leave for the first time in almost a year around the vacations, Q4 did not show up to experience a slowdown in sales transactions,” stated Lynnette Sacchetto, director of research and analytics at Property Finder. Investor mood is still robust, desire remains high, and availability is running out. It has placed increasing pressure on prices, which are currently rising and will most certainly continue until the first half of 2022.”
This emirate’s real estate market appears to be affected by Expo 2020 Dubai. Since October 1, 17,942 real estate sales deals totaling Dhs46.75 billion have been reported.
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