Dubai Property Report - Q2 2021

 
  • Dubai Property Report - Q2 2021


    In the second quarter of 2021, the Dubai market transacted over 15,596 properties worth almost AED 37 billion and achieved a new all-time high for the second quarter in terms of sales volume. Between April and June, the property sales year-on-year increased by 184% and 33.9% QoQ in all major categories 10,117apartments, 2,284 villas, 657 commercial, and 2,538 plots.

    The main factor contributing to the market’s second-quarter sales success was the ready-property and primarily in the villa sector where we have witnessed a global shift toward bigger spaces. 

    The off-plan market also started to pick up in the second quarter, selling more luxury properties ( higher than AED 8 million)  than ever before in this period. 

    * This chart shows the number of off-plan properties sold at higher than AED 8 million.

    The off-plan sales volume increased  by  53.9% QoQ and 79.7% vs. Q2 2020 and the major categories hit the following figures:

    • AED 5.36 million worth of villas, AED 1.95 M (36.37%) off-plan and AED 3.41 M (63.63%) ready.
    • AED 15.19 million worth of apartments, AED 7.17 M (47.18%) off-plan and AED 8.03 M (52.82%) ready.
    • AED 0.66 million worth of commercials, AED 0.04 M (5.88%) off-plan and AED 0.62 M (94.12%) ready.

    The most expensive apartments sold in 2021, Q2:

    And for villas:

    The performing off-plan property  areas are:

    1. MBR City (Al Merkadh) - 1032 transactions
    2. Dubai Hills Estates - 629 transactions
    3. JLT, Jumeirah Park, Jumeirah Islands - 566 transactions
    4. Jumeirah Village Circle - 561 transactions
    5. Dubai Marina - 512 transactions

    The performing ready property  areas are:

    1. Dubai Marina - 1031 transactions
    2. JLT, Jumeirah Park, Jumeirah Islands - 630 transactions
    3. Business Bay - 592 transactions
    4. Al Hebiah Fourth - 550 transactions
    5. Dubai Hills Estates - 494 transactions

    Even though over 10,000 units were delivered in the second quarter of 2021, we started seeing owners making a premium on their off-plan investment in some areas like BlueWaters, Madinat Jumeirah Living, and Port De La Mer

    Remarkably, this sales performance in Q2 was boosted by sales in June which hit a record-high for this warm month.

    Definitely, this massive increase in the sales volume will be followed by a gradual increase in the prices.

    Visit property-trends.ae to explore interactive reporting tool. 

    For more insights, visit: 

    https://property-trends.ae/dubai-real-estate-market-report-2021-2




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