The months leading up to the launch of Expo 2020 Dubai witnessed a surge in realty transactions, with September recording sales worth AED16.2 billion, the highest monthly sales since December 2013.
A total of 5,762 sales transactions in September bring the year-to-date total value to over AED100 billion, according to the 19th edition of Mo’asher, Dubai’s official sales price index, launched by Dubai Land Department (DLD) in cooperation with Property Finder.
The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012.
In September 2021 the overall monthly index recorded 1.115 and an index price of AED1.06 million.
The apartments monthly index recorded 1.14 and an index price of AED954,524 and villas/townhouses monthly index recorded 1.098 and an index price of AED1,940,843.
September 2021, the best September on record in the past eight years, brings the year-to-date total to 43,299 sales transactions worth AED104.3 billion.
In just nine months, the value of real estate sales transactions is 45.15 percent more than 2020 as a whole and is already the highest yearly sales figure since 2017.
In September 2021, 56 percent of all sales transactions were for secondary/ready properties and 44 percent were for off-plan properties.
The off-plan market transacted 2,530 properties worth a total of AED5.1 billion. This is the highest value of off-plan sales transactions in the Dubai real estate market in the past eight years.
The Secondary market transacted 3,232 sales transactions worth AED 11.1 billion.
The third quarter of 2021 has been the best quarter recorded in the history of Dubai’s real estate sector in terms of sales transaction value and the best period for sales transaction volume since 2009 after recording 15,927 sales transactions worth AED42.35 billion.
When compared to Q3 2020, Q3 2021 showed an increase of 85.36 percent in sales transaction volume and an increase of 135.42 percent in sales transaction value.
Compared to the pre-Covid Q3, the third quarter of 2021 showed an increase of 64.51 percent in transaction volume and an increase of 138.81 percent in sales transaction value.
In Q3 2021, 56.6 percent of all sales transactions were for secondary/ready properties and 43.38 percent were for off-plan properties. As for the volume of transactions, the off-plan market transacted 6,909 properties worth a total of AED13.5 billion and the secondary market transacted 9,017 properties worth a total of AED28.85 billion.
Comparing this to Q2 2021, the volume of off-plan sales transactions increased by 14.67 percent and the secondary/ready property sales transactions decreased 6.02 percent. The value of off-plan sales transactions increased by 47.11 percent and the value of secondary sales transactions increased by 4.24 percent.