Cyber Gear UAE Today
Guest Posts
 

DLD: Highest Month For Real Estate Sales Transactions Value And Volume In Eight Years

6,989 sales transactions worth AED 17.95 billion.

Reports that monitor the position of Dubai's real estate market confirm that Expo 2020 Dubai leaves positive effects on the market movement, especially since the emirate has enjoyed unprecedented promotion since Expo’s launch in October. This activity was directly reflected in the market's performance, where an upward trend is observed and is likely to continue in the coming year.

Dubai Land Department (DLD), in cooperation with Property Finder, monitored this trend by launching the 21stedition of Mo’asher, Dubai’s official sales price index. The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being Q1 2012.

In November 2021, the overall monthly index recorded was 1.156, with an index price of AED 1,115,937.The apartments monthly Index recorded 1.182 and an index price of AED 1,000,253 and the villas/townhouses monthly Index recorded was 1.167 and an index price of AED 1,990,496.

November 2021, in terms of overall index numbers, has been the highest since March 2019 and the highest for index value since November 2018. For the apartment number, it has been the highest in index numbers since May last year and for index value since August 2020. The index for villas/townhouses has performed the best, with November 2021 being the highest for index number since March 2019 and the highest in Index value since January 2019.

Overview November 2021

It has been over 70 days since Expo2020 started, and the greatest show in the world may have had ripple effects on the Dubai real estate market as November 2021 showed the highest monthly sales figures in 8 years.

November 2021 had 6,989 sales transactions worth AED 17.95 billion, making it the best November on record since Jan 2014.

Including November 2021, the year-to-date total sales transactions reached 55,640 worth AED 135.4 billion. In just 11 months, the value of real estate sales transactions is 88.37% more than 2020 as a whole and is already the highest yearly sales figure since 2014.

In November 2021, 54% of all transactions were for secondary/ready properties and 46% were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 3,217 properties worth a total of AED 6.84 billion. The ready market transacted 3,772 transactions worth AED 11.11 billion.

Comparing November 2021 month-on-month to October 2021, off-plan value and volume increased by more than 50% and secondary volume increased by more than 17% and value increased by 27.43%. Looking at overall transactions, total sales transaction value increased by 36.82% and volume increased by 30.59% compared to October.

Comparing overall performance for the month compared to November 2020, November 2021 had 80.1% more sales transactions that werevalued at 138.7% more. For a more realistic comparison, when we compare it to November 2019, November 2021 had 45.2% more sales transactions, which were 104.1% more in value.

To download Mo’asher, please visit the following links:

https://dubailand.gov.ae/en/open-data/research/residential-sales-price-index-november-2021/#/

https://www.datafinder.ae/moashernovember/2021/

View News Headlines


We accept guest posts, contact us now  
Another Cyber Gear site