It has been 67 days since Expo2020 started and the greatest show in the world may have had ripple effects on the Dubai real estate market as November 2021 showed the highest monthly sales figures in 8 years.
November 2021 had 6,989 sales transactions worth AED 17.95 billion, making it the best November on record since Jan 2014. the government started publishing data publicly.
Including November 2021, the year to date total of sales transactions reached 55,640 worth AED 135.4 billion. In just 11 months, the value of real estate sales transactions is 88.37 percent more than 2020 as a whole and is already the highest yearly sales figure since 2014.
In November 2021, 54 percent of all transactions were for secondary/ready properties and 46 percent were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 3,217 properties worth a total of AED 6.84 billion. The ready market transacted 3,772 transactions worth AED 11.11 billion.
Comparing November 2021 month-on-month to October 2021, off-plan value and volume increased by more than 50 percent and secondary volume increased by more than 17 percent and value increased by 27.43 percent. Looking at overall transactions, total transaction value increased by 36.82 percent and volume increased by 30.59 percent compared to October.
Comparing overall performance for the month compared to November 2020, November 2021 had 80.1 percent more transactions that have been 138.7 percent more in value. For a more realistic comparison when we compare it to November 2019, November 2021 had 45.2 percent more transactions which were 104.1 percent more in value.