Dubai Residential Sector Recorded 3,814 Transactions
â–ªï¸ Transactions in February were15.6 % more than the previous month in terms of volume & 10.2 % more in terms of value.
â–ªï¸ Dubai residential sector recorded 3,814 transactions worth Dh7.43 billion in February 2021.
â–ªï¸ Recorded the highest number of secondary/ready properties transacted in a single month since March 2014.
â–ªï¸ Total to 7,109 transactions worth Dh14.16 billion.
â–ªï¸ Consumers wanted to move into a property now and not wait for construction to be completed on an off-plan property.
â–ªï¸ The trend upgrade to a larger property with more internal and external space.
â–ªï¸ Volume of transactions in secondary/ready properties was higher versus off-plan properties in H2 2020,.
â–ªï¸ The trend continued into 2021 and the confidence in the ready market continued to grow as February 2021 now holds the record for most secondary/ready properties in a single month over the past seven years.
â–ªï¸ Real estate sector has shown an unexpected level of resilience in the face of serious challenges created by the pandemic.
â–ªï¸ The supply-demand imbalance is likely to worsen over the course of 2021, similar to last year.
â–ªï¸ 41,500 new residential units and 1.5 million sqft of office space are expected for handover in 2021 in Dubai.
â–ªï¸ 68 % of all transactions were for secondary/ready properties and 32 % were for off-plan properties.
Volume of Transactions
â–ªï¸ Off-plan market transacted 1,163 properties worth a total of Dh1.61 billion.
â–ªï¸ Secondary market transacted 2,650 properties worth a total of Dh5.82 billion.
â–ªï¸ Number of off-plan transactions in February increased by 35.8 %.
â–ªï¸ Secondary/ready property transactions increased by 8.2 % compare to January 2021.
â–ªï¸ Developers launch new phases to existing projects which are under construction.
â–ªï¸ New launches, especially in the villa/townhouse segment, proved to be very popular with investors.
Villas/Townhouses Sector Sales in February 2021
â–ªï¸ 10.3 % sales in February 2021 in Nad Al Sheba
â–ªï¸ Dubai Hills Estate (8.3 %)
â–ªï¸ Green Community (8.0 %)
â–ªï¸ Arabian Ranches (4.7 %)
â–ªï¸ Dubailand (4.0 %)
Apartments Sale in February 2021
â–ªï¸ 14.9 % of all sales transactions took place in Business Bay
â–ªï¸ Followed by Dubai Marina (9.0 %)
â–ªï¸ Jumeirah Village Circle (8.0 %)
â–ªï¸ Downtown Dubai (6.5 %)
â–ªï¸ Palm Jumeirah (6.2 %)
Top Areas of Interest for Villas/Townhouses
â–ªï¸ Dubai Hills Estate
â–ªï¸ Arabian Ranches
â–ªï¸ Palm Jumeirah
â–ªï¸ Mohamed bin Rashid City
â–ªï¸ Damac Hills
Top Areas of Interest for Apartments
â–ªï¸ Dubai Marina
â–ªï¸ Downtown Dubai
â–ªï¸ Palm Jumeirah
â–ªï¸ Business Bay
â–ªï¸ Jumeirah Village Circle