There was an exceptional growth in real estate transactions in general in the months preceding the launch of Expo 2020 Dubai in terms of volume and value.
September 2021 recorded greater achievements, the highest value of sales in one month since December 2013, with 5,762 sales transactions valued at over AED16.2 billion, bringing the year-to-date total value to over AED100 billion.
According to the 19th edition of Mo’asher, Dubai’s official sales price index launched by Dubai Land Department (DLD) in cooperation with Property Finder.
Accordingly, the base year for Mo’asher is 2012, and the base month for the monthly index is January 2012. In September 20201, Monthly Index recorded 1.115 and an index price of AED1,065,816, Apartments monthly Index recorded 1.14 and an index price of AED954,524, and Villas/Townhouses monthly Index recorded 1.098 and an index price of AED1,940,843.
As of Q3 2021, the Overall Quarterly Index measured 1.128 and the Apartments Quarterly Index measured 1.134 and the Villas/Townhouses Quarterly Index measured 1.124 and AED1,954,802.
The number of transactions during September 2021 was 5,762, worth AED16,2 billion, which is the most in the past 8 years. This brings the year-to-date sales to 43,299 for a value of AED104.3 billion. As of now, there have been 45.15 percent more real estate sales transactions in 9 months than for 2020 as a whole, which is already the highest sales figure since 2017.
There were 56 percent of sales transactions for secondary/ready properties in September 2021, and 44 percent for off-plan properties. On the basis of number of transactions, 2530 properties valued at AED 5.1 billion were sold off-plan. In over 8 years, the Dubai real estate market has seen the highest volume of off-plan transactions. The Secondary market recorded 3,232 sales worth AED 11.1 billion.
Dubai’s real estate sector recorded 15,927 sales transactions worth AED42.35 billion in Q3 2021, the best quarter in the country’s history for the number of sales transactions and the best period for the number of sales transactions since 2009.
Comparing Q3 2021 to Q3 2020, Q3 2021 showed an increase of 85.36 percent in transaction volume and an increase of 135.42 percent in transaction value. Compared to Q3 2019, Q3 2021 showed an increase of 64.51 percent in transaction volume and an increase of 138.81 percent in sales transaction value.
During Q3 2021, 56.6% of all sales transactions were for secondary/ready properties and 43.38 percent were for off-plan properties. A total of 6,909 properties were transacted in the off-plan market, worth a total of AED13.5 billion, while 9,017 properties were transacted in the secondary market, worth AED28.85 billion.
Compared to Q2 2021, the number of off-plan sales transactions increased by 14.67 percent, and the number of secondary/ready property sales decreased by 6.02 percent. Sales of off-plan properties increased by 47.11 percent, while sales of secondary properties increased by 4.24 percent.