Dubai real estate transactions exceed Dh100bn mark

Dubai real estate transactions exceed Dh100 billion mark ahead of EXPO 2020 launch, according to data from Property Finder, a property portal.

September 2021 had 5,762 transactions worth Dh16.2 billion, making it the best September on record in the past 8 years. Also, 56 per cent of all transactions were for secondary/ready properties and 44 per cent were for off-plan properties.

“The growth of the monthly sales transactions and their values leading up to EXPO 2020 has been phenomenal, 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 Dh100 billion mark for the year,” the portal said in a statement.

The year to date total to 43,299 sales transactions is worth Dh104.3 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.

The Secondary market transacted 3,232 transactions worth AED 11.1 billion. “When we look at the volume of transactions, the off-plan market transacted 2,530 properties worth a total of Dh5.1 billion. This is the highest value of off-plan sales transactions the Dubai real estate market has seen in over 8 years,” said the portal’s statement.