Sales House Price Index - March 2021

Since H2‭ ‬of 2020‭, ‬we have seen records broken in certain segments of the real estate sector and in March 2021‭, ‬we saw bigger records broken‭. ‬According to records registered with Dubai Land Department March 2021‭ ‬had 4,643‭ ‬transactions worth AED 10.93‭ ‬billion‭, ‬23‭ ‬percent more than February 2021‭ ‬in terms of volume and 47‭ ‬percent more in terms of value‭.‬

Q1‭ ‬2021‭ ‬had 11,753‭ ‬sales transactions worth AED 25.15‭ ‬billion‭. ‬In total‭, ‬Q1‭ ‬2021‭ ‬had 6‭ ‬percent more real estate sales transactions than Q4‭ ‬2020‭, ‬16‭ ‬percent more for secondary properties and 7‭ ‬percent less for off-plan properties‭. ‬When compared to Q1‭ ‬2020‭, ‬Q1‭ ‬2021‭ ‬had 15‭ ‬percent more total sales transactions‭, ‬70‭ ‬percent more for secondary properties and 29‭ ‬percent less for off-plan‭ ‬properties‭.‬

In March‭, ‬63‭ ‬percent of sales transactions were for secondary/ready properties and 37‭ ‬percent were for off-plan properties‭. ‬When‭ ‬we look at the volume of sales transactions‭, ‬the off-plan market transacted 1,713‭ ‬properties worth a total of AED 2.91‭ ‬billion‭ ‬and the secondary market transacted 2,930‭ ‬properties worth a total of AED 8.02‭ ‬billion‭. ‬Comparing this to February 2021‭, ‬the number of off-plan transactions in March increased by 37‭ ‬percent and the secondary/ready property transactions increased by 16‭ ‬percent‭. ‬

For the month of March‭, ‬an interesting factor is that the average transaction value for off-plan properties has increased month‭-‬on-month by 24.6‭ ‬percent and for secondary properties it‭  ‬increased by 21.5‭ ‬percent‭. ‬The total value of off-plan properties when‭ ‬comparing March 2021‭ ‬to February 2021‭ ‬has increased by 70‭ ‬percent and secondary properties have increased by 41‭ ‬percent‭.‬

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Sales House Price Index - March 2021 20 April, 2021 / 10 MB / PDF
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