Residential Sales Price Index - November 2021

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.‬

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Residential Sales Price Index - November 2021 10 January, 2022 / 4 MB / PDF