Highlights for November 2021
- To date in 2021, 58.79% more sales transactions have been recorded, and the value was 88.37% higher than in all of 2020.
- The off-plan property sales volumes increased by 50.82% and the value by 55.41% from one month to the next.
- In November 2021, 54% of sales transactions were on the secondary / loan market and 46% were off-plan.
Dubai, United Arab Emirates – Reports that monitor the position of the Dubai real estate market confirm that Expo 2020 Dubai is leaving positive effects on market movement, especially as the emirate has benefited from an unprecedented promotion since the launch of the ‘Expo in October. This activity was directly reflected in the performance of the market, where an upward trend is observed and is expected to continue next year.
In November 2021, the overall monthly index recorded was 1.156, with an index price of AED 1,115,937. The monthly apartment index recorded 1.182 and a price index of 1,000 253 AED and the monthly registered villa / townhouse index was 1.167 and a price index of 1,990,496 AED.
November 2021, in terms of aggregate indices, was the highest since March 2019 and the highest for the value of the index since November 2018. For the number of apartments, it was the highest in number of indices since May of last year and for the index value since August. 2020. The Villas / Townhouses Index performed the best with November 2021 being the highest index number since March 2019 and the highest in value of the index since January 2019.
Preview November 2021
It has been more than 70 days since the start of Expo2020, and the world’s largest trade fair may have had a ripple effect on Dubai’s property market, as November 2021 posted the highest monthly sales figures. bred in 8 years.
November 2021 recorded 6,989 sales transactions worth AED17.95 billion, making it the best November on record since January 2014.
Including November 2021, total sales transactions since the start of the year reached 55,640 with a value of AED135.4 billion. In just 11 months, the value of real estate sales transactions is 88.37% higher than in 2020 as a whole and is already the highest annual turnover since 2014.
In November 2021, 54% of all transactions involved secondary / ready-made properties and 46% involved off-plan properties. When we look at the volume of transactions, the off-plan market has processed 3,217 properties with a total value of AED 6.84 billion. The loan market carried out 3,772 transactions worth AED11.11 billion.
Comparing November 2021 month on month to October 2021, VEFA value and volume increased by more than 50% and secondary volume increased by more than 17% and value increased by 27.43%. Looking at all transactions, the total value of sales transactions increased 36.82% and volume increased 30.59% from October.
Comparing the month’s overall performance against November 2020, November 2021 saw 80.1% more sales transactions, valued at 138.7% more. For a more realistic comparison, when we compare it to November 2019, November 2021 saw 45.2% more sales transactions, or 104.1% more in value.
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© Press release 2021