DUBAI – Dubai’s real estate market registered 3,787 deals costing AED7.43 billion in February 2021, a 13.8 percent rise from January 2021 in terms of volume and 8.9 percent more in terms of value, as per the 12th edition of Mo’asher, Dubai’s official sales price index which was launched Dubai Land Department (DLD) in corporation with Property Finder.
This sums up to the year’s total, up until February, to 7,114 deals costing AED14.2 billion, provided in a press release provided by DLD on Sunday.
The index data, which is taken from the base year 2012, a base month for the monthly index January 2012, and the base quarter for the quarterly index Q1 2012, provides that Dubai’s real estate market continues its rising trend. After a small fall in January, the index numbers are back on the increase.
Additional trends that began seeing in H2 2020 were secondary/ready properties transacting higher, volume-wise, than off-plan properties. This trend additionally proceeded into 2021, and the interest in the prepared market kept on developing as February 2021 presently holds the record for the most secondary/ready property deals transactions in a single month in the course of recent years, outperforming January’s numbers.
In February, 67 percent of total deals were for secondary/ready properties, and 33 percent were for off-plan properties. The volume of deals and the off-plan market dealt 1,355 properties costing a total of AED1.8 billion, and the secondary market dealt 4,114 properties costing a whole of AED15.3 billion.
Comparing this to January 2021, the number of off-plan deals in February raised by 39.9 percent.
As per the Data Finder, the real estate insights and data platform under the Property Finder Group, 10.3 percent of all deals in the villas/townhouses sector in February 2021 took place in Nad al Sheba, then comes Dubai Hills Estate (8.3 percent), Green Community (8 percent), Arabian Ranches (4.7 percent) and Dubailand (4 percent).
Looking at apartments, 14.9 percent of all sales transactions took place in Business Bay followed by Dubai Marina (9 percent), Jumeirah Village Circle (8 percent), Downtown Dubai (6.5 percent), and Palm Jumeirah (6.2 percent).