The emirate registered 6,388 deals worth Dh14.79 billion in June, 44.33% more than May 2021 in terms of volume and 33.2% more in terms of value. However, last month’s volumes increased173.46% compared to June 2020 and 204.55% in terms of value.
In June 2021, 62.2% of all deals were for secondary/ready properties and 37.8% were for off-plan properties. The off-plan market transacted 2,418 properties worth a total of Dh3.5 billion and the secondary market transacted 3,970 properties with a total of Dh11.29 billion. Meydan stood out as the top area for deals (15%) among apartments in the previous month, while Green Community topped as the top choice for deals among villas/townhouses, reporting 18.2%.
Across Q2, Dubai registered 4,824 deals in April and 4,426 deals in May. Q2 2021 had a total of 15,638 deals worth Dh36.86 billion, 33.26% more than Q1 2021 in terms of volume and 46.76% more in terms of value.
In Q2 2021, 61.5% of all deals were for secondary/ready properties and 38.5% were for off-plan properties. The off-plan market transacted 6,025 properties worth a total of Dh9.17 billion and the secondary market transacted 9,613 properties worth a sum of Dh27.68 billion. In comparison to Q1 2021, the number of off-plan deals in Q2 increased by 53.93% and the secondary/ready property transactions increased 22.91%.
The year-to-date total stands at 27,373 deals worth Dh1.97 billion.
“The trends this year have certainly kept us on our toes, with month-on-month increases and record-breaking months for sales transactions, high investment demand from residents and foreign investment, and property prices increasing across prime, popular communities. It has been a dynamic market, to say the least,” said Lynnette A Sacchetto, director of research and data at Property Finder.
“Compared to Q1 2021, the overall, average secondary transaction value has increased by 17.28 percent and the average off-plan transaction value has increased by 0.83 percent. Following on from the rest of the year’s trends, Q2 outperformed previous quarters and we will most likely see this trend continue until the end of the year and into 2022.”