The past months, leading up to the launch of the Expo, witnessed an exceptional growth in real estate sales transactions in terms of volume and value, but September 2021 recorded a greater importance represented in being the highest month in the value of real estate sales in one month since December 2013. The month witnessed sales that exceeded 16.2 billion Dirhams, distributed over 5762 pledges, to exceed the value of real estate sales since the beginning of the year, the barrier of 100 billion dirhams, and the third quarter was the best third quarter ever in the value of land sales, according to the data of the 18th edition of the official sales price index in Dubai launched by “Dubai Lands”. In cooperation with Property Finder.
According to 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 base quarter, the total monthly index recorded in September 1,115 points at a price of 10,65816 dirhams, after the monthly index of apartments recorded 1.14 points at a price of 954524 dirhams, and 1,098 points for the monthly index. For villas, the price is 1940843 dirhams.
The general quarterly index in the third quarter scored 1,128 points at a price of 1053263 dirhams, after the quarterly index for apartments recorded 1,134 points, at a price of 946,644 dirhams, and 1,124 points for the quarterly index for villas, at a price of 1954,802 dirhams.
Transactions increased by the end of September to 43,299 transactions worth 104.3 billion, and during the first 9 months of 2021, the value of real estate sales transactions increased 45.15% compared to the whole year 2020, thus being the highest annual real estate sales value since 2017.
The secondary market/ready units accounted for 56% of sales in September, while off-plan sales accounted for 44%, and off-plan sales dealt with 2,530 properties with a total value of 5.1 billion dirhams, and this is the highest value of off-plan sales transactions witnessed in the real estate market. In Dubai for more than 8 years. 3,232 properties were traded in the secondary market, with a total value of 11.1 billion during September 2021.
The third quarter of 2021 is the best third quarter in the history of the real estate sector in Dubai in terms of sales value, and the best third quarter in terms of transaction volume since 2009, which witnessed the registration of 15,927 real estate sales with a value of 42.35 billion dirhams.
Comparing the third quarter of 2021 with the third quarter of 2020 showed an increase of 85.36% in the volume of sales transactions, and an increase of 135.42 percent in the value of sales.
When compared with the period before the spread of “Covid-19”, the third quarter of 2021 showed an increase of 64.51 percent in the volume of transactions, and 138.81 percent in the value of sales, compared to the third quarter of 2019.
The secondary market/ready units accounted for 56.6% of the sales of the third quarter 2021, while the off-plan sales accounted for 43.38%, and with regard to the volume of transactions, the off-plan sales dealt with 6909 properties with a total value of 13.5 billion dirhams. In turn, 9,017 properties were traded in the secondary market, with a total value of 28.85 billion dirhams during the third quarter of 2021.
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