DLD’s ’Real Estate Updates’ Bulletin Affirmsreal Estate Sector’s Attractiveness And Accelerated Growth Rate Since January 2021
25,445 real estate transactions worth AED 92 billion in the first four months of 2021.
Dubai's real estate sector has maintained an accelerating growth since the beginning of 2021, which confirms the flexibility and attractiveness of the sector as well asthe positive impact of the decisions and directives of the wise leadership, which, in turn contributed to enhancing investor and customer trust in the sector. It also supported it to keep pace with the new normal in a way that reinforces Dubai's global position as a preferred real estate investment destination.
According to the real estate bulletin issued by Dubai Land Department (DLD) under the name ‘Real Estate Updates,’the real estate sector showed robustness and an ability to adapt to various circumstances and developments. 25,455 real estate transactions worth AED 92 billion were registered from January - April 2021, thus achieving an increase of 51% in terms of the number of transactionsand 72% in terms of their value compared to the same period in 2020.
The bulletin revealed that the real estate sector in the emirate will continue to attract more real estate investors, thanks to its strong infrastructure and attractive investment opportunities. 8,749 new investors entered the market from January - April 2021, representing 65% of the total number of real estate investors registered in that period, with a growth of 54% compared to the same period in 2020.
The growth of real estate investments
The bulletin also showed that the total value of real estate investments during the aforementioned period reached AED 36 billion, an increase of 44% compared to the same period in 2020.This confirms the continued flow of real estate investments since the beginning of the year at a high rate, which also strengthens the trust of local and international investors alike.
187,949Ejaricontracts were recorded in January - April 2021, 58% of which were new contracts and 42% were renewed contracts.
The best areas in terms of sales values
The bulletin highlighted the top five areas for investor attractiveness. In villa sales, Hadaeq Sheikh Mohammed Bin Rashidtopped the list in April 2021,followed by Palm Jumeirah, Wadi Al Safa 5, Wadi Al Safa 7, and Al Yelayiss 2. In apartment sales, Dubai Marina, Burj Khalifa, Palm Jumeirah, Business Bay, and Al Thanyah Fifth topped the list in April 2021.
It is expected that the real estate sector will witness increased growth and a greater recovery in the coming period following the permission of Dubai's Supreme Committee of Crisis and Disaster Management to submit electronic permit applications for business activities of all kinds, in addition to the fast-approaching date of Expo 2020, which in turn will attract tourists and visitors from around the worldand will constitute a great opportunity for the real estate sector to strengthen its position regionally and globally.