The real-estate market in Dubai is seeing sustained growth in the run-up to Expo 2020 Dubai, said local reports on Wednesday, September 22.
The reports quoted the latest numbers from the 18th edition of Mo’asher, which is Dubai’s official sales price index.
According to Dubai’s official sales price index, August 2021 is the second-highest month since December 2013 in terms of the number of sales transactions in one month.
The index, it may be mentioned here, was launched by Dubai Land Department or DLD in cooperation with Property Finder.
The number of the aforementioned transactions — in the context of sales — was 5,780 transactions worth AED14.97 billion (around $4.08 billion).
This figure apparently meant this was the best August for the sector in 12 years.
The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012.
In August 2021, the overall monthly Index recorded 1.096 and an index price of AED1,041,825 (a little less than $283,700 in present-day terms).
In August 2021, 55 percent of all sales transactions were for secondary or ready properties and 45 percent were for off-plan properties.
Given the overview, the percentage of off-plan properties relative to the entire market increased by 5 percent month-on-month.
