Rental Markets, Emirates
- Emirate Recorded 51,452 leases in January.
- 52% being new contracts.
- Recorded 564,036 leases, which broke a 12-year record in terms of volume in 2021.
Annual & Non Annual Leases
- Increased by 50.3%.
- Non-annual leases increased by 75.5% in 2021 compared with the previous year.
Rental Contracts
- Most Popular Rental Contracts in Januaray are two-bedroom apartments followed by one-bedroom properties.
- Most popular villa or townhouse rental contracts were for three bedrooms.
Areas With Most Rental Contract Registration
- Jabel Ali First with 1,811 registrations.
- Naif with 1,760.
- Al Karama, Al Warsan First, Al Souq Al Kabeer, Business Bay, Al Nahda Second and Barsha South were also popular.
Demand
- Dubai Marina was the most frequently looked-for area with more than 11% of all searches followed by Downtown Dubai, Business Bay, Jumeirah Village Circle and Jumeirah Lakes Towers.
Covid Recovery
The UAE’s property market continues to recover from the pandemic-induced slowdown on the back of government initiatives such as residency permits for those who have retired and a rapid vaccination programme.
Value of Property Deals, Dubai
- Doubled morethan last year.
- Broke a 12-year record in terms of real estate sales transactions.
- Demand in the secondary real estate market.
Registrations & Transactions
- Emirate registered 61,241 sales transactions worth Dh151.07 billion last year compared with Dh71.87bn worth of transactions it closed in 2020, by making 2021 the best year for total transactions since 2013 and the highest in value since 2009.
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