After a couple of record breaking months, which were November and December 2020, January 2021 has started the year with the same trends which is healthy news for the residential real estate industry. In total January 2021 had 3,300 transactions worth AED 6.74 billion, 15.5 percent more than January 2020 in terms of volume and 37 percent more in terms of value.
The trend throughout 2020 was secondary/ready properties started transacting more and this trend has continued into this new year. 72 percent of all transactions in January 2021 were for secondary/ready properties and 28 percent were for off-plan properties. When we look at the volume of transactions, the secondary market transacted 2,373 properties worth a total of AED 5.43 billion, this is the highest number of secondary/ready properties transacted in a single month since March 2014.
Q4 2020 was the strongest quarter in 2020 and helped the year recover the most in terms of volume and value with 11,065 sales transactions worth AED 22.07 billion. This quarter set the wheels in motion for the year to start strong and we are most likely going to see this going forward into February, where we have already seen more than Dh3.3 billion in sales transactions last week. This included an AED 38 million Villa in Emirates hills and a AED 25.2 million villa in Jumeirah Golf Estates.