The real estate market in the Emirate of Dubai has achieved a new record, the highest in terms of the value of real estate transactions in 4 years, confirming the emirate’s attractiveness and flexibility in attracting real estate investments, and its being one of the best global real estate destinations and the most capable of adapting to various global conditions and developments.
The data of the fifteenth edition of the official sales price index in Dubai, which was launched by Dubai Land in cooperation with Property Finder, showed that the month of May witnessed the achievement of the highest total value of real estate sales since March 2017, exceeding 11.11 billion dirhams, a growth of 1.4% compared to the month April. The number of real estate deals last May amounted to 4,429 deals, bringing the total real estate deals from the beginning of this year to the end of May to 20,989 deals with a total value of 47.19 billion.
The data of the index, which is taken from 2012 as a base year, from January 2012 as a base month, and from the first quarter 2012 as a quarter basis, indicates that the general monthly index last May recorded 1,071 points at a price of 1,07529 dirhams, while the monthly index of apartments recorded 1,085 points at a price of 904,476 dirhams . The monthly index for villas / townhouses scored 0.993 points at a price of 1773164 dirhams.
Thus, the growth in the number of real estate sales on an annual basis compared to May 2020 reached 215%, while the growth in the value of sales in the same period amounted to about 357%. Sales on the map witnessed a growth of 74%, while sales of the secondary market / ready-made units, which witnessed great demand, reached 466% growth compared to May 2020.
The secondary market/ready units accounted for 62% of total sales in May, while off-plan sales accounted for 38%. Apartment sales accounted for 77% of the total, and 23% for villas/townhouse sales. With regard to the volume of transactions, sales on the map dealt with 1674 properties with a total value of 2.58 billion dirhams, while 2755 properties were traded in the secondary market, with a total value of 8.53 billion dirhams.
Mohammed bin Rashid City accounted for 10.1% of the total sales of villas / “townhouses” in May, followed by “Dubai Land” with 7.6%, “Dubai Hills Estate” with 7.4%, and Arabian Ranches 3 with 6.5%, And “Town Square” 6.4%. As for apartments, the Jumeirah Lakes Towers area accounted for 10.8% of total sales, followed by Dubai Marina 9.2%, Jumeirah Village Circle 8.6%, Downtown Dubai 7.4%, and Business Bay 5.7%, according to research data from the company. “Property Finder”.
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