Sales House Price Index - Jun 2021

June 2021‭ ‬had the highest total sales transaction volume since December 2013‭, ‬making it the highest monthly volume of property sales transactions in eight years‭. ‬June 2021‭ ‬had 6,388‭ ‬transactions worth AED 14.79‭ ‬billion‭, ‬44.33‭ ‬percent more than May 2021‭ ‬in‭ ‬terms of volume and 33.2‭ ‬percent more in terms of value‭.‬

High sales transaction volumes in April and May of 4,824‭ ‬and 4,426‭ ‬respectively made for a great Q2‭, ‬which had the highest quarterly volume of sales transactions since Q4‭ ‬2013‭. ‬Q2‭ ‬2021‭ ‬had a total of 15,638‭ ‬transactions worth AED 36.86‭ ‬billion‭, ‬33.26‭ ‬percent more than Q1‭ ‬2021‭ ‬in terms of volume and 46.76‭ ‬percent more in terms of value‭.‬

This brings the year to date total to 27,373‭ ‬transactions worth AED 61.97‭ ‬billion‭. ‬To put this into perspective‭, ‬all of 2020‭ ‬had‭ ‬a total number of 35,041‭ ‬sales transactions worth AED 71.87‭ ‬billion‭.‬

If we take a deeper dive into the data‭, ‬and compare real estate sales transactions in both June 2021‭ ‬and Q2‭ ‬2021‭ ‬with similar periods in 2020‭ ‬and 2019‭ ‬we see that the market has had significant growth and COVID was a growth accelerator for the industry‭. ‬

June 2021‭ ‬compared to June 2020‭ ‬has increased by 173.46‭ ‬percent in terms of volume and 204.55‭ ‬percent in terms of value and when‭ ‬compared to June 2019‭, ‬June 2021‭ ‬has increased by 140.87‭ ‬percent in terms of volume and 179.13‭ ‬percent in terms of value‭. ‬

In June 2021‭, ‬62.2‭ ‬percent of all transactions were for secondary/ready properties and 37.8‭ ‬percent were for off-plan properties‭. ‬When we look at the volume of transactions‭, ‬the off-plan market transacted 2,418‭ ‬properties worth a total of AED 3.5‭ ‬billion and the secondary market transacted 3,970‭ ‬properties worth a total of AED 11.29‭ ‬billion‭. ‬Comparing this to May 2021‭, ‬the number of off-plan transactions in June increased by 44.44‭ ‬percent and the secondary/ready property transactions increased by 44.26‭ ‬percent‭. ‬

Q2‭ ‬2021‭ ‬when compared to Q2‭ ‬2020‭ ‬showed an increase of 183.4percent for volume and an increase of 237.79‭ ‬percent for value‭. ‬When‭ ‬compared to Q2‭ ‬2019‭, ‬Q2‭ ‬2021‭ ‬showed an increase of 78.27‭ ‬percent for volume and an increase of 102‭ ‬percent for value‭.

In Q2‭ ‬2021‭, ‬61.5‭ ‬percent of all transactions were for secondary/ready properties and 38.5‭ ‬percent were for off-plan properties‭. ‬When we look at the volume of transactions‭, ‬the off-plan market transacted 6,025‭ ‬properties worth a total of AED 9.17‭ ‬billion and the secondary market transacted 9,613‭ ‬properties worth a total of AED 27.68‭ ‬billion‭. ‬Comparing this to Q1‭ ‬2021‭, ‬the number of‭ ‬off-plan transactions in Q2‭ ‬increased by‭  ‬53.93‭ ‬percent and the secondary/ready property transactions increased 22.91‭ ‬percent‭. ‬

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