The value of real estate transactions in Dubai exceeded USD 28 billion in the run-up to Expo 2020

The value of real estate transactions in Dubai exceeded USD 28 billion in the run-up to Expo 2020

In just 9 months, the value of real estate sales transactions has grown by 45.15 percent and exceeded 2020 as a whole.

The increase of the monthly sales transactions and their values in the run up to Expo 2020 has been truly phenomenal but nothing can match the results achieved in September, 2021. Last month saw the highest value of real estate sold in a single month since December 2013 and also reached USD 27 billion for the year.

In September 2021 Dubai registered 5,762 transactions worth USD 4.4 billion, making it the best September on record in terms of sales in the past 8 years.

Including September 2021, the year's total amounts to 43,299 sales transactions worth USD 28 billion. Since the beginning of the year, in just 9 months, the value of real estate sales transactions has grown by 45.15 percent and exceeded 2020 as a whole. It is also already the highest yearly sales figure since 2017.

56 percent of all transactions in September accounted for secondary/ready properties and 44 percent accounted for off-plan properties. If we look at the volume of transactions, 2,530 properties were transacted in the off-plan market, valued in total at USD 1.3 billion. This is the highest value of off-plan sales transactions Dubai's real estate market has had in more than 8 years. As for the secondary market, 3,232 units worth USD 3 billion were transacted there.

Mortgage transactions are also at an all-time high year-to-date, breaking all records, and the year hasn't ended yet.

Over the past year, the average price for secondary apartments has increased by 41 percent and the price for secondary villa/townhouses has risen by 20 percent. The average price for apartments in the off-plan segment has grown by more than 15 percent, while villa/townhouses price in the off-plan segment has increased by over 10 percent.

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