The last few months leading up to the launch of the Expo 2020 Dubai global event have witnessed exceptional growth in general property sales transactions in terms of volume and value. However, September 2021 saw greater achievements, with the recording of the highest value of real estate sales in a month since December 2013 via 5,762 sale transactions worth over AED16.2 billion. , bringing the total value since the start of the year to over AED100 billion. This is revealed by the 19th edition of Mo’asher, the official Dubai Selling Price Index, launched 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. In September 2021, the overall monthly index registered 1.115 and an index price of 1,065,816 AED, l The monthly apartment index registered 1.14 and an index price of 954,524 AED. and the monthly villa / townhouse index recorded 1.098 and an index price of AED 1,940,843.
In the third quarter of 2021, the overall quarterly index registered 1.128 and a price index of 1,053,263 AED, the quarterly apartment index registered 1,134 and a price index of 946,644 AED and the quarterly index of villas / Townhouses registered 1,124 and a price index of 1,954,802 AED.
Preview September 2021
September 2021 saw 5,762 transactions worth AED16.2 billion, making it the best September on record in the past 8 years. This brings the cumulative total for the year to 43,299 sales transactions worth AED 104.3 billion. In just 9 months, the value of real estate sales transactions is 45.15% higher than in 2020 as a whole and is already the highest annual turnover since 2017.
In September 2021, 56% of all sales transactions involved secondary / ready-made properties and 44% involved off-plan properties. When we look at the volume of sales transactions, the off-plan market has processed 2,530 properties with a total value of AED 5.1 billion. This is the highest value of off-plan sale transactions the Dubai property market has seen in over 8 years. The secondary market completed 3,232 sales transactions worth AED11.1 billion.
Q3 2021 preview
The third quarter of 2021 was the best third quarter recorded in the history of Dubai’s real estate sector in terms of sales transaction value and the best third quarter for sales transaction volume since 2009 after recording 15,927 sales transactions. worth AED 42.35 billion.
Compared to the third quarter of 2020, the third quarter of 2021 showed an 85.36% increase in sales transaction volume and a 135.42% increase in sales transaction value. To put it in perspective, when we compare to pre-covid periods such as the third quarter of 2019, the third quarter of 2021 showed a 64.51% increase in transaction volume and a 138.81% increase in the value of transactions. sales transactions.
In the third quarter of 2021, 56.6% of all sales transactions involved secondary / ready-made properties and 43.38% involved off-plan properties. When we look at the volume of transactions, the off-plan market processed 6,909 properties with a total value of AED 13.5 billion and the secondary market processed 9,017 properties with a total value of AED 28.85 billion. ‘AED.
Compared with the second quarter of 2021, the volume of off-plan transactions increased by 14.67% and transactions for the sale of secondary goods / loans decreased by 6.02%. The value of off-plan sales transactions increased by 47.11% and the value of secondary sales transactions increased by 4.24%.