Buyers return: thousands of apartments and villas sold in Dubai in one month

March 2021 recorded the highest number of sales transactions in 16 months, DLD figures say.

Property transactions in Dubai have hit another record, with apartments and villas sales reaching USD 2.9 billion during just one month, the Dubai Land Department pointed out in its report.

4,643 real estate deals were registered in March 2021, which is the highest number in 16 months. And the value of all the transactions for the month amounted to nearly half of the total value of all sales for the first three months of the year standing at USD 6.8 billion.

The latest figures are highlighted in the 13^th edition of Mo’asher, Dubai’s official sales price index launched by DLD in cooperation with Property Finder. 

It is also reported that that the transaction numbers registered in March were 23 percent higher in terms of quantity and 47 percent higher in terms of value if compared with the figures in February 2021. 

Sales activity has picked in Dubai since the easing of coronavirus restrictions last year, with most of the buyers snapping up ready-to-occupy units.  

Secondary properties made up 63 percent of the sales transactions in March, which was the highest since June 2015. The off-plan market accounted for 37 percent of the sold properties. 

Most of the buyers have purchased apartments, representing 71 percent of the transactions, villas and townhouses sales made up 29 percent of the deals. 

As for deals with off-plan units, the total number was 1,713 with a value of USD 792 million. The number of transactions with ready units totalled 2,930 standing at USD 2.1 billion.

The most popular location to buy villas last month was Mohammed bin Rashid City, accounting for 11.5 percent of the sales, followed by Tilal Al Ghaf (10.1 percent), Dubai Hills Estate (9.9 percent), Nad Al Sheba (8.2 percent) and Rukan (5.8 percent). 

Most desirable areas among apartment buyers was Business Bay with 10.7 percent of the total sales. It is followed by Dubai Marina (9.3 percent), Jumeirah Village Circle (8 percent), Jumeirah Lakes Towers (7.6 percent) and Palm Jumeirah (7.2 percent).