Dubai Real Estate had over 84,196 real estate transactions in 2021 worth almost AED 300 billion. The value of these transactions is the highest its ever been in the recorded history of Dubai Real Estate. Compared to 2020, the volume of transactions grew by 66.3 percent and the value of transactions grew by 72%.
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 were also the highest since 2013. Overall, 2021 was a phenomenal year for the Dubai real estate market, with trends and figures that have not been seen in the past 8 years.
In 2021, 59.6 percent of all transactions were for secondary/ready properties and 40.4 percent were for off-plan properties. When we look at the volume of sales transactions, the off-plan market transacted 24,761 properties worth a total of AED 45.5 billion and the secondary market transacted 36,480 properties worth a total of AED 105.56 billion. This is also the highest secondary real estate sales transaction value since 2008.
2021 when compared to 2020 showed an increase of 74.77 percent in sales transaction volume and an increase of 110.19 percent in value. To put it in perspective, when we compare to pre-covid times such as 2019, 2021 showed an increase of 55.47 percent in volume and an increase of 90.10 percent in value.
Q4 2021
Q4 2021 had a total of 17,942 transactions worth AED 46.75 billion. Both volume and value of transactions are the highest since Q4 2013.
In Q4 2021, 55.9 percent of all transactions were for secondary/ready properties and 44.1 percent were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 7,913 properties worth a total of AED 16.92 billion, and the secondary market transacted 10,029 properties worth a total of AED 29.82 billion.
Q4 2021 when compared to Q4 2020 showed an increase of 64.12 percent in sales transaction volume and an increase of 114.74 percent in value. To put it in perspective, when we compare pre-covid times such as Q4 2019, Q4 2021 showed an increase of 47.53 percent in volume and an increase of 97.59 percent in value.
Comparing Q4 to Q3 2021, the volume of off-plan transactions increased by 14.53 percent and the secondary/ready property sales transactions increased by 11.22 percent. The value of off-plan sales transactions increased by 25.38 percent and the value of secondary sales transactions increased by 3.36 percent. We have seen a surge in off-plan sales transactions in Q4 which is reflected in the fact that this is the highest volume and value of off-plan sales transactions in a given quarter since Q1 2010.
