Sales House Price Index - July 2021

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.‬

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Sales House Price Index - July 2021 29 August, 2021 / 9 MB / PDF
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