Sales House Price Index - Feb 2021

In H2‭ ‬2020‭, ‬the Dubai residential sector had a few record breaking months and this trend continued into January 2021‭, ‬where we saw the secondary/ready market with the highest number of transactions in a single month over the past years‭. ‬February was no different‭, ‬according to Data from Dubai Land Department‭ , ‬February 2021‭ ‬had 3,787‭ ‬sales transactions worth AED 7.43‭ ‬billion‭, ‬13.8‭ ‬percent more than January 2021‭ ‬in terms of volume and 8.9‭ ‬percent more in terms of value‭. ‬This brings the year to February total‭ ‬to 7,114‭ ‬sales transactions worth AED 14.2‭ ‬billion‭.‬

Additional trends that we saw starting in H2‭ ‬2020‭ ‬were secondary/ready properties‭  ‬transacting higher‭, ‬volume wise‭, ‬than off-plan properties‭. ‬This trend also continued into 2021‭ ‬and the demand in the ready market continued to grow as February 2021‭ ‬now holds the record for the most secondary/ready property sales transactions in a single month over the past three years‭, ‬surpassing January’s numbers‭.

In February‭, ‬67‭ ‬percent of overall transactions were for secondary/ready properties and 33‭ ‬percent were for off-plan properties‭.‬‭ ‬When we look at the volume of transactions‭, ‬the off-plan market transacted 1,355‭ ‬properties worth a total of AED 1.8‭ ‬billion and the secondary market transacted 4,114‭ ‬properties worth a total of AED 15.3‭ ‬billion‭. ‬Comparing this to January 2021‭, ‬the number‭ ‬of off-plan transactions in February increased by 39.9%‭ .‬

According to Data Finder the real estate insights and data platform under the Property Finder group‭, ‬In the villas/townhouses sector‭, ‬10.3‭ ‬percent of all sales in February 2021‭ ‬took place in Naad al Sheeba‭, ‬followed by Dubai Hills Estate‭ (‬8.3‭ ‬percent‭), ‬Green Community‭ (‬8‭ ‬percent‭), ‬Arabian Ranches‭ (‬4.7‭ ‬percent‭) ‬and Dubailand‭ (‬4‭ ‬percent‭). ‬Looking at apartments‭, ‬14.9‭ ‬percent of all sales transactions took place in Business Bay followed by Dubai Marina(9‭ ‬percent‭), ‬Jumeirah Village Circle‭ (‬8‭ ‬percent‭), ‬Downtown Dubai‭ (‬6.5‭ ‬percent‭) ‬and Palm Jumeirah‭ (‬6.2‭ ‬percent‭).‬

The top areas of interest in terms of searches for villas/townhouses in February 2021‭ ‬were Dubai Hills Estate‭, ‬Arabian Ranches‭, ‬Palm Jumeirah‭, ‬Mohamed bin Rashid City and Damac Hills‭. ‬As for apartments for the same period‭, ‬the top areas of interest were Dubai Marina‭, ‬Downtown Dubai‭, ‬Palm Jumeirah‭, ‬Business Bay and Jumeirah Village Circle‭.‬

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Sales House Price Index - Feb 2021 17 March, 2021 / 11 MB / PDF
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