DUBAI, April 25, WAM – Last March achieved a record number of real estate deals 16 months ago, reaching 4,643 real estate sales with a total value of 10.93 billion dirhams, thus achieving a growth of 23 percent in terms of the number of deals and 47 percent in terms of value compared to Last February.
This came in the thirteenth edition of the official sales price index in Dubai, which was launched by Dubai Land in cooperation with Property Finder. The data of the index – which is taken from the year 2012 as the base year, January 2012 as the base month and from the first quarter of 2012 quarter – to That the total number of real estate sales during the first quarter of 2021 reached 11,753 real estate sales, at a value of 25.15 billion dirhams.
According to the index data, the first quarter of 2021 witnessed an increase in real estate sales transactions in general, by 6 percent compared to the fourth quarter of 2020, after sales in the secondary market recorded a growth of 16 percent, while off-plan sales decreased by 7 percent.
When compared with the first quarter of 2020, it was found that the first quarter of 2021 achieved a growth of 15 percent after recording an increase of 70 percent for secondary market real estate and a 29 percent decline in sales on the map.
The secondary market / ready-made units accounted for 63 percent of the total sales during March 2021, which is the highest number for this type of real estate in one month since June 2015 … While sales on the map accounted for 37 percent, apartment sales 71 percent, and villa / townhouse sales 29 percent.
With regard to the volume of transactions, the sales on the map dealt with 1,713 properties with a total value of 2.91 billion dirhams .. While 2,930 properties were traded in the secondary market, with a total value of 8.02 billion dirhams, as it becomes clear when comparing these results with last February that sales on the map increased by a rate. 37 percent, and secondary market sales up 16 percent.
As for the month of March, the interesting factor was that the average value of transactions for real estate on the map increased by 24.6% on a monthly basis … while real estate in the secondary market increased by 21.5% … and the total value of properties on the map increased when compared to March 2021 February 2021 will increase by 70% and the total value of real estate in the secondary market will increase by 41%.
According to the demand data from the base of the “Property Finder” company, Mohammed Bin Rashid City acquired 11.5 percent of the total villa / townhouse sales last March, followed by Tilal Al Ghaf by 10.1 percent, then “Dubai Hills Estate” by 9.9 percent, followed by Nad Al Sheba with a rate of 8.2. And then “Rukan” at 5.8 percent.
With regard to apartments, the Business Bay area accounted for 10.7% of total sales, followed by Dubai Marina by 9.3%, Jumeirah Village Circle by 8%, Jumeirah Lake Towers by 7.6% and Palm Jumeirah by 7.2%.
Searches for villas / townhouses in March 2021 were concentrated in the areas of “Dubai Hills Estate”, Arabian Ranches, Palm Jumeirah, Mohammed Bin Rashid City, and “Damac Hills” .. while the search for apartments focused during the same period in the areas of Dubai Marina and “Downtown.” Town Dubai, Palm Jumeirah, Business Bay, and Jumeirah Village Circle.
Last March, the general monthly index recorded 1.085 at a price of 1,016,541 dirhams … while the monthly index for apartments scored 1,129 points at 944,982 dirhams and 0.982 points for the monthly villas / townhouse index at 1,745,336 dirhams.
As for the first quarter of 2021, the general index scored 1,095 points at a price of 1009901 dirhams, and the quarterly index for apartments scored 1,133 at 945,081 dirhams … while the quarterly index for villas / townhouses scored 0.922 points at 1,789,909 dirhams.