September 2021 brought great achievements for Dubai, with the value of real estate sales reaching a high number in one month since December 2013 via 5,762 sales transaction worth over AED16.2 billion, bring the year-to-date total value to over AED 100 billion. This is 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 AED 1,065,816, Apartments monthly Index recorded 1.14 and an index price of AED 954,524 and Villas/Townhouses monthly Index recorded 1.098 and an index price of AED 1,940,843.
In Q3 2021 the Overall Quarterly Index recorded 1.128 and an index price of AED 1,053,263, Apartments Quarterly Index recorded 1.134 and an index price of AED 946,644 and Villas/Townhouses Quarterly Index recorded 1.124 and an index price of AED 1,954,802.
Overview September 2021
September 2021 had 5,762 transactions worth AED 16.2 billion, making it the best September on record in the past 8 years. This brings the year-to-date total to 43,299 sales transactions worth AED 104.3 billion. In just 9 months, the value of real estate sales transactions is 45.15% more than 2020 as a whole and is already the highest yearly sales figure since 2017.
In September 2021, 56% of all sales transactions were for secondary/ready properties and 44% were for off-plan properties. When we look at the volume of sales transactions, the off-plan market transacted 2,530 properties worth a total of AED 5.1 billion. This is the highest value of off-plan sales transactions the Dubai Real estate market has seen in over 8 years. The Secondary market transacted 3,232 sales transactions worth AED 11.1 billion.
Overview Q3 2021
Q3 2021 has been the best Q3 recorded in the history of Dubai’s real estate sector in terms of sales transaction value and the best Q3 for sales transaction volume since 2009 after recording 15,927 sales transactions worth AED 42.35 billion.
When compared to Q3 2020, Q3 2021 showed an increase of 85.36% in sales transaction volume and an increase of 135.42% in sales transaction value. To put it in perspective, when we compare to pre-covid times such as Q3 2019, Q3 2021 showed an increase of 64.51% in transaction volume and an increase of 138.81% in sales transaction value.
In Q3 2021, 56.6% of all sales transactions were for secondary/ready properties and 43.38% were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 6,909 properties worth a total of AED 13.5 billion and the secondary market transacted 9,017 properties worth a total of AED 28.85 billion.
Comparing this to Q2 2021, the volume of off-plan sales transactions increased by 14.67% and the secondary/ready property sales transactions decreased 6.02%. The value of off plan sales transactions increased by 47.11% and the value of secondary sales transactions increased by 4.24%.
News Source: Dubai Media Office
