As indicated by information from Property Finder, Dubai’s property transactions became more than 40% year on year in the main portion of 2021 with 27,373 transactions worth AED 61.97 billion.

In the main portion of 2021 the Dubai Real Estate Market had 17,434 secondary/prepared transactions worth AED 46.88 billion and 9,939 off-plan transactions worth AED 15.09 billion. When contrasted with H2 2020, secondary/prepared transactions expanded by 44%, and the worth of optional/prepared transactions expanded by 56.28 percent.

Off-plan transactions showed a marginally lesser increment when contrasted with the past half year with an expansion of 54.61 percent in the worth of transactions and an increment of 34.02 percent for the volume of transactions.

Recovery of Secondary Market:

Expounding an expansion in the normal cost per transaction, an average transaction estimated for both secondary/ready and off-plan properties had likewise expanded, showing an expansion in the normal cost per transaction. The average transaction cost for secondary/ready properties expanded from AED 2.48 million in H2 2020 to AED 2.69 million in H1 2021.

The average translation cost for off-plan properties had expanded from AED 1.32 million in H2 2020 to AED 1.52 million in H1 2021. This shows an increment of 15.36 percent for off-plan properties and an increment of 8.53 percent for secondary/ready properties.

Director of Research and Data, Lynnette A Sacchetto said that 54% more apartments had been sold in H1 2021 contrasted with H2 2020 and 49 percent more villas/townhouses. The increment had been in the two fragments, and the development of the whole private market by roughly 50%.

As indicated by Property Finder demand information, the top spaces of transactions for villas/townhouses in H1 2021 were Mohammed canister Rashid City, Dubai Hills Estate, Dubai Land, Nadd al Sheba, and the Green Community. Business Bay, Jumeirah Village Circle, Dubai Marina, Jumeirah Lakes Towers, and Downtown Dubai were the top spaces of deals, concerning apartments for a similar period.

Source: Gulf News