DUBAI– A whole of 6,590 real estate deals in Dubai were registered in March 2021, costing about AED22.9 billion, as per the real estate bulletin provided by Dubai Land Department (DLD) under the name ‘Real Estate Updates’.
The bulletin showed an increase in number by 43 percent and an increase in cost by 40 percent in comparison to March 2020. It also noted that MArch 2021 registered the second-highest number of real estate deals since February 2017.
The bulletin provided that real estate deals in Q1 2021 achieved a significant increase of 27 percent and 47 percent in comparison to Q1 2020 and Q1 2019, respectively.
The bulletin highlighted the attractiveness of the real estate sector to new investors, as 5,683 new investors entered the market in Q1 2021, showing 64% of the total figure of investors during the same period. The mentioned numbers showed the continuity of achieving positive outcomes in 2021, thereby continuing to uplift the trust of local and international investors in Dubai’s attractive and vibrant real estate environment.
The cost of real estate brokerage commissions gained by active real estate brokers in the real estate market touched AED 392 million in Q1 2021, whereas 143,374 Ejari contracts were registered in Q1 2021, 57% of which were new contracts and 43 percent were renewed.
The bulletin highlighted the main five areas for investor attractiveness. In-villa deals, Hadaeq Sheikh Mohammed Bin Rashid topped the list in Q1 2021, followed by Wadi Al Safa 5, Wadi Al Safa 7, Nad Al Sheba 1, and Al Thanyah Fourth. In apartment sales, Dubai Marina, Palm Jumeirah, Business Bay, Burj Khalifa, and Al Merkadh topped the list in Q1 2021.