Real estate transactions record bumper sales marking the highest in four years

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Dubai skyline Image Credit: Clint Egbert/Gulf News

Dubai: – Dubai’s real estate market continues to achieve record numbers in the number and value of real estate sales transactions.

The 14th edition of Mo’asher, Dubai’s official sales price index, launched by Dubai Land Department (DLD) shows that 4,832 sales transactions worth Dh10.98 billion were recorded in April 2021, the highest value in four years, specifically since March 2017. This brings the year to April total to 16,577 sales transactions worth Dh36.12 billion.

Overview

In April 2021, 60 per cent of sales transactions were for secondary/ready properties and 40 per cent were for off-plan properties. Apartment sales also accounted for 69 per cent of the total, and 31 per cent for villa/townhouse sales.

Since the start of the pandemic, the apartment prices started declining. This is partially due to more affordable housing coming into the market, more supply of apartments completed and an increase in demand shifting to villa/townhouses.

The popular choice

The top areas of interest in terms of searches for villas/townhouses in April 2021 were Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Mohamed bin Rashid City and Damac Hills.

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.