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