Dubai registered USD 6.23 billion worth of real estate transactions in March

Property transactions in Q1 2021 achieved a significant growth of 27 percent, says DLD's real estate bulletin.

6,590 real estate transactions worth USD 6.2 billion in total were recorded in Dubai in March 2021, the Dubai Land Department (DLD) states in its recent real estate bulletin under the name Real Estate Updates.

According to the bulletin, the number of property deals rose by 43 percent and its value by 40 percent compared to March 2020. It is also reported that March 2021 recorded the second highest number of real estate transactions since February 2017.

The bulletin revealed that real estate transactions in Q1 2021 achieved a significant growth of 27 percent and 47 percent compared to Q1 2020 and Q1 2019, respectively.

The bulletin pointed out that the real estate sector retains its attractiveness to new investors: 5,683 new investors entered the market in Q1 2021, which represents 64 percent of the total number of investors during the same period. The above-mentioned figures demonstrate the continuity of achieving positive results in 2021, enhancing the trust of local and international investors in Dubai’s real estate environment.

Real estate brokerage commissions achieved by active real estate brokers in the real estate market reached USD 106 million in total in Q1 2021. 143,374 Ejari contracts were recorded in Q1 2021, 57 percent of which were new contracts and 43 percent were renewed.

The bulletin also named top five areas for investor attractiveness. In villa sales, Hadaeq Sheikh Mohammed Bin Rashid topped the list in Q1 2021, followed by Wadi Al Safa 5, Wadi Al Safa 7, Nad Al Sheba 1 and Al Thanyah Fourth. In apartment sales, Dubai Marina, Palm Jumeirah, Business Bay, Burj Khalifa and Al Merkadh topped the list in Q1 2021.