Real estate transactions in Dubai broke a 12-year record in 2021 and reached 151 billion dirhams

The total value of real estate transactions in Dubai last year broke a 12-year record, reaching 151.07 billion dirhams.

In 2021, 59.6% of all transactions accounted for secondary/finished real estate and 40.4% for off-plan projects. 24,761 real estate units worth 45.5 billion dirhams were sold on the off-plan real estate market, and 36,480 real estate units worth 105.56 billion dirhams were sold on the secondary real estate market. This is also the highest value of transactions for the sale of secondary real estate since 2008.

Compared to 2020, the Dubai real estate sector showed an increase in the volume of purchase and sale transactions by 74.77% and an increase in value by 110.19%. But compared to the pre-COVID period, in 2021 the volume increased by 55.47%, and the cost increased by 90.10%.

Expo-2020 in Dubai has also had an impact on the local real estate market. Since its launch on October 1, 2021, a total of 17,942 purchase and sale transactions worth 46.75 billion dirhams have been completed in the Dubai real estate market.