Sales House Price Index - August 2021

After a relatively quiet July because of the Eid al Adha holidays‭, ‬August bounced back to the growth trajectory the Dubai Real Estate Market has been on since the end of last year‭. ‬August 2021‭ ‬is now the second highest month after June 2021‭ ‬since December‭ ‬2013‭ ‬for the highest number of sales transactions in a single calendar month‭.‬

August 2021‭ ‬had 5,780‭ ‬transactions worth AED 14.97‭ ‬billion‭, ‬making it the best August on record in the past 12‭ ‬years‭. ‬

This brings the year to August total to 37,537‭ ‬sales transactions worth AED 88.12‭ ‬billion‭. ‬In just 8‭ ‬months‭, ‬the value of real estate sales transactions is 22.61‭ ‬percent more than 2020‭ ‬as a whole‭. ‬The entire year of 2020‭ ‬had 35,401‭ ‬sales worth AED 71.87‭ ‬billion‭. ‬

In August 2021‭, ‬55‭ ‬percent of all transactions were for secondary/ready properties and 45‭ ‬percent were for off-plan properties‭. ‬Looking at overall percentage‭, ‬the percentage of off-plan properties relative to the entire market has increased by 5%‭ ‬month-on-month‭.‬

When we look at the volume of sales transactions‭, ‬the off-plan market transacted 2,599‭ ‬properties worth a total of AED 4.95‭ ‬billion‭. ‬This is the highest value of off-plan sales transactions the Dubai Real estate market has seen in over 11‭ ‬years‭. ‬The last time the market saw this much money being pumped into off-plan properties was early 2009-10‭. ‬The Secondary market transacted 3,181‭ ‬transactions worth AED 10.02‭ ‬billion‭.‬

The overall average transaction value increased to AED AED 2,589,938‭ ‬an increase of 1.57‭ ‬percent when compared to July 2021‭, ‬Secondary/ready Average transaction value increased to AED 3,149,857‭ ‬an increase of 5.91‭ ‬percent and off-plan average transaction value has decreased by 1.3‭ ‬percent to AED 1,904,635‭.‬

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Sales House Price Index - August 2021 16 September, 2021 / 8 MB / PDF
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