5,352 real estate sales transactions in October 2021: DLD



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DUBAI- Coinciding with the launch of Expo 2020 Dubai, the largest global event and the first of its kind in the Middle East, the Dubai real estate market continued to record new achievements and growth in the transaction area. real estate sales.

According to data from the 20th edition of Mo’asher, the official Dubai Selling Price Index launched by the Dubai Land Department (DLD) in partnership with Property Finder, October 2021 recorded 5,352 sale transactions worth of AED 13.12 billion, making it the best October on record. for eight years.

The index shows that, including October 2021, the cumulative total for the year is 48,651 sales transactions worth AED 177.44 billion. In just 10 months, the value of real estate sales transactions is 63.4% higher than in 2020 as a whole and is already the highest annual turnover since 2015.

In October 2021, the overall monthly index registered 1.132 and a price index of 1,086,969 AED, the monthly apartment index registered 1.16 and a price index of 974,621 AED and the monthly villa index. / townhouses registered 1.13 and a price index of 1,962,448 AED.

October 2021 in terms of aggregate indices was the highest since June 2019 and the highest for the value of the index since March 2019.

Regarding the number of apartments, they are the highest in number of indices since August 2020 and in index value since September 2020. The index of villas / townhouses obtained the best results, October 2021 being the highest for the index since April 2019 and the highest in Index value since February 2019.

October 2021 recorded 5,352 sales transactions worth AED13.12 billion, making it the best October on record in the past eight years. Including October 2021, this brings the cumulative total for the year to 48,651 sales transactions worth AED 177.44 billion. In just 10 months, the value of real estate sales transactions is 63.4% higher than in 2020 as a whole and is already the highest annual turnover since 2015.

The row villa index has increased by 14% over the past six months. Since the start of the pandemic, the demand for villas / townhouses has increased exponentially, resulting in an increase in sales of villas / townhouses, breaking records for top-selling from July 2020 and increasing from month to month.

In October 2021, 60% of all transactions involved secondary / ready-made properties and 40% involved off-plan properties. When we look at the volume of sales transactions, the off-plan market has processed 2,133 properties with a total value of AED4.4 billion.

The loan market completed 3,219 sales transactions worth AED 8.72 billion. Breaking this figure down further by developer sales and individual sales, developers completed a total of 3,395 deals worth AED 8.08 billion, which included off-plan and prime properties, while Individual sales accounted for 1,957 transactions worth AED 5.03 billion, according to data from the Data Research Tool. .

According to proprietary demand data from Property Finder, the top areas of transactions in October 2021 for villas / townhouses in June 2021 were Damac Hills 2, Nad Al Sheba, The Springs, Dubai Hills Estate and Arabian Ranches. As for apartments for the same period, the main areas of interest were Dubai Marina, Business Bay, Jumeirah Village Circle, Downtown Dubai and Jumeirah Lake Towers.

For off-plan properties, the main trading areas in October 2021 for villas / townhouses in June 2021 were Arabian Ranches 3, Tilal al Ghaf, The Valley, Dubai Land and Mohammed bin Rashid City. As for apartments for the same period, the main areas of interest were Dubai Port, Mohammed bin Rashid City, Dubai Creek Port, Business Bay and Downtown Dubai.

© Copyright Emirates News Agency (WAM) 2021.

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