Dubai recorded the highest value of real estate sales transactions in 12 years in 2021 with a total value of Dhs151.07bn worth of properties sold during the year.
Dubai saw a surge in value of real estate sales transactions by 13% year on year, to a record setting high. This continues the growth seen from the previous year which had been 12%.
The property market has recorded the highest values of property sales transactions in Dubai in 12 years due to lower real estate prices after all purchasers retreated last year. In 2021, 59.6% of all property transactions were for secondary properties and 40.4% were for off-plan properties. Recording the highest volume in the last decade, the off-plan property market transacted 24,761 residential properties worth a total of $45.5 million and the secondary market transacted 36,480 residential
Dubai real estate sales transactions in 2021 turned out to be the most encouraging result in twelve years. The volume and value for cumulative transactions amounted to 5,172 and AED152.83 million respectively. For 2020, there was an increase of 74.77% over the volume and increase of 110.19% over the value in comparison to the two previous years when the values only increased by 15%.
Q4 of 2021 saw the Dubai real estate market experiencing its highest volume and value of transactions in the past 12 years. DHA recorded 17,942 transactions worth Dhs46.75bn. In terms of volume and value, this quarter's real estate market was the best since Q4 2013.
The Dubai real estate market has recorded the greatest volume and value of transactions in 12 years in Q4 2021 according to a recent report. 55.9% of all transactions were for secondary properties and 44.1% were for off-plan properties. The volume of off-plan transactions amounted to 7,913 properties worth Dhs16.92bn and 10,029 total transactions (both primary and secondary) totalling up to 29.82bn in value over the period.
With its 241 recorded transactions, 2016 was the 12th year it hit its highest value of sales transactions. During this past quarter of 2021, there was an enhancement in both volume and value at 64.12 per cent and 114.74 per cent respectively.
Dubai's Q4 had its best real estate sales figures in 12 years and it appears that the high numbers were due to secondary and off-plan transactions. From what we can tell, off-plan transaction volume increased by 14.5% while secondary properties saw an increase of 12%.
Net gains from the Dubai property sector is up 35% as of 2020, according to Property Finder resercher Lynette Sacchetto. In 2016, investors have started to enter into sectors that have traditionally been hard to monetize.
The Expo 2020 Dubai event had a significant impact on the nation’s real estate market this year, with 16,000 real estate transactions worth Dhs46.75bn since its start in October.