KHALEEJ TIMES, Thursday, May 27, 2021 | Shawwal 15, 1442
Dubai posts property deals worth Dh36b in four months
Emirates:
Dubai’s real estate sector recorded 4,832 sales transactions worth
Dh10.98 billion in April 2021, the highest value in four years, specifically
since March 2017.
In terms of volume, April transactions were up 4.2 per cent compared to March
and 0.6 per cent more in terms of value. This brings the year to April total to
16,577 sales transactions worth Dh36.12 billion, according to the 14th edition
of Mo’asher, Dubai’s official sales price index, launched by Dubai Land
Department (DLD), in cooperation with Property Finder.
In April, 70 per cent of the total transactions were up to Dh2 million, while 23
per cent were between Dh2 million and to Dh5 million, 4.0 per cent were between
Dh5 million and Dh10 million and 3.0 per cent above Dh 10 million.
While off-plan sales rose 12.9 per cent, the highest in 14 months, the month saw
60 per cent transactions in secondary/ready market segment and sand 40 per cent
in off-plan category.
Apartment sales also accounted for 69 per cent of the total, and 31 per cent for
villa / townhouse sales. When we look at the volume of transactions, the
off-plan market transacted 1,934 properties worth Dh3.09 billion and the
secondary market transacted 2,898 properties worth Dh7.89 billion. Comparing
this to March 2021, the number of off-plan sales transactions in April increased
by 12.9 per cent, the highest in 14 months and the secondary/ready property
transactions decreased for the first time in 11 months by 0.92 per cent, said
the report.
“Since the start of the pandemic, we have seen apartment prices decline. This is
partially due to more affordable housing coming into the market, more supply of
apartments completed, and an increase in demand shifting to villa/townhouses,”
said the report.
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