July 2021 was a relatively quiet month due to many deciding to travel after a year of uncertainty. Despite this, July did very well, the sales volume and index increased.
July 2021 had 4,384 transactions worth AED 11.18 billion, making it the best July on record in the past 12 years.
This brings the year to date total to 31,757 sales transactions worth AED 73.15 billion. In 7 months, the value of real estate sales transactions has surpassed 2020. The entire year of 2020 had 35,401 sales worth AED 71.87 billion. As of July 2021, there was 1.78 percent more in Sales Transaction Value when compared to the year 2020.
In July 2021, 59.4 percent of all transactions were for secondary/ready properties and 40.6 percent were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 1,780 properties worth a total of AED 3.44 billion and the secondary/ready market transacted 2,604 properties worth a total of AED 7.74 billion.
One interesting fact in the numbers is the average transaction value. In July we saw this increase quite significantly. Overall Average transaction value increased to AED 2,550,014, which is an increase of 10.14 percent when compared to June 2021, Secondary/ready Average transaction value increased to AED 2,973,969.29, which is an increase of 4.62 percent. Off-plan average transaction value increased to AED 1,929,801, an increase of 33.13 percent.
According to proprietary Property Finder demand data, the top areas of interest in terms of transactions for villas/townhouses in June 2021 were the Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Damac Hills and Mohamed bin Rashid City. 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.