The total number of real estate sales transactions that took place last year were also the highest since 2013
In 2021, Dubai recorded the highest value of real estate sales transactions in 12 years, with Dhs151.07bn worth of properties sold throughout last year.
The total number of real estate sales transactions that took place last year – – equalling 61,241 – were also the highest since 2013, according to Property Finder.
In 2021, 59.6 per cent of all transactions were for secondary/ready properties and 40.4 per cent were for off-plan properties. In terms of the volume of sales transactions, the off-plan market transacted 24,761 properties worth a total of Dhs45.5bn and the secondary market transacted 36,480 properties worth a total of Dhs105.56bn.
2021 when compared to 2020 showed an increase of 74.77 per cent in sales transaction volume and an increase of 110.19 per cent in value. Compared to 2019, last year showed an increase of 55.47 per cent in volume and an increase of 90.10 per cent in value.
Q4 2021
Q4 2021 had a total of 17,942 transactions worth Dhs46.75bn. Both volume and value of transactions were the highest since Q4 2013.
In Q4 2021, 55.9 per cent of all transactions were for secondary/ready properties and 44.1 per cent were for off-plan properties. In terms of the volume of transactions, the off-plan market transacted 7,913 properties worth a total of Dhs16.92bn and the secondary market transacted 10,029 properties worth a total of Dhs29.82bn.
The last quarter of 2021 when compared to Q4 2020 showed an increase of 64.12 per cent in sales transaction volume and an increase of 114.74 per cent in value.
Comparing Q4 to Q3 2021, the volume of off-plan transactions increased by 14.53 per cent and the secondary/ready property sales transactions increased by 11.22 per cent. The value of off plan sales transactions increased by 25.38 per cent and the value of secondary sales transactions increased by 3.36 per cent.
Lynnette Sacchetto, director of research and data at Property Finder, said: “Despite the fact that many decided to travel for the first time in over a year during the holidays, Q4 didn’t seem to see a slowdown in sales transactions. Investor sentiment remains strong, demand is still very high and supply is dwindling. This has put an upward pressure on prices as they still continue to rise and will most likely continue into H1 of 2022.”
Expo 2020 Dubai also appeared to have had an impact on the emirate’s real estate market. Since its start on October 1, a total of 17,942 real estate sales transactions worth Dhs46.75bn were recorded.
