The record real estate transactions will contribute to driving the sector in the next 50 years during which the UAE seeks to build the best economy globally, Dubai Land Department said on Friday.
A total of 84,196 real estate transactions worth almost AED 300 billion ($81.67 bn) were recorded last year, which is the highest ever in the recorded real estate history of Dubai.
Compared to 2020, the volume of transactions grew by 66.3 percent, and the value of transactions grew by 72 percent, according to the data of the 22nd edition of Mo’asher, Dubai’s official sales price index issued by the 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, with the base quarter for the quarterly index being Q1 2012.
The data said 2021 concluded with record numbers, positively reflecting on 2022, which is the “first year in our journey towards the next 50 years, during which Dubai and the UAE seek to build the best global economy”.
The year 2021 broke a 12-year record in terms of real estate sales transactions value, with properties worth AED 151.07 billion sold throughout the year. The total number of real estate sales transactions that took place was also the highest since 2013.
In December 2021, the overall monthly Index recorded 1.156 and an index price of AED 1,115,937, making it the highest since February 2019 in terms of index numbers and the highest in value since August 2018.
In Q4 2021, the overall quarterly Index recorded 1.181 and an index price of AED 1,118,218, the apartments quarterly Index recorded 1.184 and an index price of AED 1,000,054, and the villas/townhouses quarterly Index recorded 1.204 and an index price of AED 2,060,863.
In 2021, the overall yearly Index recorded 1.193 and an index price of AED 1,133,776, the apartments yearly Index recorded 1.201 and an index price of AED 1,041,679, and the villas/townhouses yearly Index recorded 1.198 and an index price of AED 1,961,679.
December 2021, in terms of overall index numbers, was the highest since February 2019 and the highest for index value since August 2018. For apartment numbers, last year was the highest in index numbers since March 2019 and for index value since April 2019. The index for villas/townhouses performed the best, with December 2021 being the highest for index number and index value since February 2019.