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 increases in terms of value, as per the 12th edition of Mo’asher, Dubai’s official deals cost index that was launched by Dubai Land Department (DLD) in cooperation with Property Finder.
This brings the year’s total, up by the end of 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 2021, 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 carries on its upwards trend. After a slight fall in January, the index numbers are back on the rise.
Additional trends that began seeing in H2 2020 were optional/prepared properties executing higher, volume-wise, than off-plan properties. This trend also proceeded into 2021, and the interest in the prepared market kept on developing as February 2021 presently holds the record for the most auxiliary/prepared property deals exchanges in a solitary month in the course of recent years, outperforming January’s numbers.
In February, 67% of in general exchanges were for optional/prepared properties, and 33 percent were for off-plan properties. The volume of exchanges and the off-plan market executed 1,355 properties worth a sum of AED1.8 billion, and the optional market executed 4,114 properties worth a sum of AED15.3 billion.
Comparing this with January 2021, the quantity of off-plan exchanges in February expanded by 39.9 percent.
As indicated by Data Finder, the land experiences and information stage under the Property Finder Group, 10.3 percent of all deals in the villas/townhouses area in February 2021 occurred in Nad al Sheba, trailed by Dubai Hills Estate (8.3 percent), Green Community (8%), Arabian Ranches (4.7 percent) and Dubailand (4%).
Looking at apartments, 14.9 percent of all business exchanges occurred in Business Bay followed by Dubai Marina (9%), Jumeirah Village Circle (8%), Downtown Dubai (6.5 percent), and Palm Jumeirah (6.2 percent).
As per Property Finder’s proprietary demand data, the main areas of interest in terms of searches for villas/townhouses in February 2021 were Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Mohamed bin Rashid City, and Damac Hills.
As for apartments for a similar period, the top territories of interest were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay, and Jumeirah Village Circle.
Overall, the monthly Index recorded 1.071 and an index price of AED1,004,652. Apartments’ monthly Index recorded 1.125 and an index price of AED944,982, while the monthly index of villas/townhouses recorded 0.924 and an index price of AED1,760,377, said the DLD press release.