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4,384 real transactions worth AED 11.18 billion made, majority of these in secondary, ready properties.
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Sales in the seven months of 2021 exceed those of the entire 2021.
DUBAI: As many as 4,384 real transactions worth AED 11.18 billion made July 2021 the best July in the past 12 years for Dubai real estate market.
Property portal Property Finder said in a statement that in July 2021, 59.4 percent of all transactions were for secondary/ready properties and 40.6 percent were for off-plan properties.
The off-plan market transacted 1,780 properties worth a total of AED 3.44 billion and the secondary/ready market transacted 2,604 properties worth a total of AED 7.74 billion.
In July especially, there has been a drastic spike in the average transaction value, which increased to AED 2.5 million, an increase of 10.14 percent when compared to June 2021.
The secondary/ready average transaction value increased to AED 2.9 million, an increase of 4.62 percent and off-plan average transaction value increased to AED 1.9 million, an increase of 33.13 percent.
The total number of realty transactions so far this year was 31,757 worth AED 73.15 billion, which is more than the sales in the entire 2020.
“In previous years, we normally saw the summer months as a slower market due to holidays and people migrating, however not this year despite the fact that many are now starting to travel,” Lynnette A Sacchetto, director of research and data.
In July 2021, Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Damac Hills and Mohamed bin Rashid City were the most sought after areas for villas and townhouses.
As for apartments for the same period, the top areas of interest were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle.
