DUBAI, 20th June / WAM / The number of real estate deals in the Emirate of Dubai during the month of May reached 4,429 real estate deals with a total value of 11.11 billion dirhams, the highest value in four years, bringing the total real estate deals since the beginning of this year until the end of last May to 20,989 deals with a total value It amounted to 47.19 billion dirhams.
The real estate market in the Emirate of Dubai has achieved a new record, thus establishing the emirate’s attractiveness and flexibility in attracting real estate investments, and confirming that Dubai is one of the best global real estate destinations and the most capable of adapting to various global conditions and developments.
The data of the fifteenth edition of the official sales price index in Dubai – launched by the Dubai Land Department in cooperation with “Property Finder” – indicated that the month of May 2021 witnessed the achievement of the highest total value of real estate sales since March 2017, exceeding 11.11 billion dirhams, with a growth rate of 1.4 percent compared to last April.
The number of real estate deals in May 2021 reached 4,429 deals, bringing the total real estate deals since the beginning of this year until the end of last May to 20,989 deals with a total value of 47.19 billion dirhams.
The data of the index – which is taken from 2012 as the base year and from January 2012 the base month and from the first quarter 2012 the base quarter – showed that the general monthly index last May recorded 1,071 points at a price of 1,007,529 dirhams .. while the monthly index of apartments recorded 1,085 points at a price of 904,476 The monthly index for villas / townhouses is 0.993 points, at a price of 1,773,164 dirhams.
When looking at the achieved results, it was found that the growth in the number of real estate sales on an annual basis, specifically compared to May 2020, amounted to 215 percent, while the growth in the value of sales in the same period was about 357 percent, as off-plan sales witnessed a growth of 74 percent .. while market sales witnessed Secondary/ready units are in great demand, with a growth rate of 466 percent compared to May 2020.
The secondary market/ready units accounted for 62 percent of the total sales during the month of May 2021..while off-plan sales accounted for 38 percent..apartments sales accounted for 77 percent of the total and villas/townhouses sales for 23 percent.
With regard to the volume of transactions, off-plan sales dealt with 1,674 properties, with a total value of 2.58 billion dirhams… while 2,755 properties were traded in the secondary market, with a total value of 8.53 billion dirhams.
And “Mohammed Bin Rashid City” accounted for 10.1 percent of the total sales of villas / townhouses in May 2021, followed by “Dubailand” with 7.6 percent, followed by “Dubai Hills Estate” with 7.4 percent, then “Arabian Ranches 3” with 6.5 percent, and “Towns” Square” by 6.4 percent.
With regard to apartments, the Jumeirah Lakes Towers area topped the list with 10.8 percent, followed by Dubai Marina with 9.2 percent, Jumeirah Village Circle with 8.6 percent, Downtown Dubai with 7.4 percent and Business Bay with 5.7 percent. percent.
According to the demand data from the database of the “Property Finder” company, searches for villas / townhouses in May 2021 were concentrated in the areas of “Dubai Hills Estate”, “Arabian Ranches”, “Palm Jumeirah”, “DAMAC Hills” and “Mohammed Bin Rashid City” While searches for apartments in the same period were concentrated in the areas of “Dubai Marina”, “Downtown Dubai”, “Palm Jumeirah”, “Business Bay” and “Jumeirah Village Circle”.