The growth of the monthly sales transactions and their values leading up to EXPO202 has been exceptional, but none as significant as September 2021. Last month not only had the highest value of real estate sold in a single month since December 2013 but also crossed the AED 100 billion mark in sales transactions for the year.
September 2021 had 5,762 transactions worth AED 16.2 billion, making it the best August on record in the past 8 years.
Including September 2021, brings the year-to-date total to 43,299 sales transactions worth AED 104.3 billion. In just 9 months, the value of real estate sales transactions is 45.15 percent more than 2020 as a whole and is already the highest yearly sales figure since 2017.
In September 2021, 56 percent of all transactions were for secondary/ready properties and 44 percent were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 2,530 properties worth a total of AED 5.1 billion. This is the highest value of off-plan sales transactions the Dubai Real estate market has seen in over 8 years. The Secondary market transacted 3,232 transactions worth AED 11.1 billion.
Q3 2021 has been the best Q3 recorded in the history of Dubai real estate in terms of sales transaction value and the best Q3 for sales transaction volume since 2009.
Q3 2021 when compared to Q3 2020 showed an increase of 85.36 percent in sales transaction volume and an increase of 135.42 percent in transaction value. To put it in perspective, when we compare pre-covid times such as Q3 2019, Q3 2021 showed an increase of 64.51 percent in transaction volume and an increase of 138.81 percent in transaction value.
In Q3 2021, 56.6 percent of all transactions were for secondary/ready properties and 43.38 percent were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 6,909 properties worth a total of AED 13.5 billion and the secondary market transacted 9,017 properties worth a total of AED 28.85 billion.
Comparing this to Q2 2021, the volume of off-plan transactions increased by 14.67 percent and the secondary/ready property sales transactions decreased 6.02 percent. The value of off-plan sales transactions increased by 47.11 percent and the value of secondary sales transactions increased by 4.24 percent.