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.
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 billion worth of villas, AED 1.95 B (36.37%) off-plan and AED 3.41 B (63.63%) ready.
- AED 15.19 billion worth of apartments, AED 7.17 B (47.18%) off-plan and AED 8.03 B (52.82%) ready.
- AED 0.66 billion worth of commercials, AED 0.04 B (5.88%) off-plan and AED 0.62 B (94.12%) ready.
The most expensive apartments sold in 2021, Q2:
- AED 42 M, BV Residences 3 in Island 2
- AED 28 M, W Residences Dubai - The Palm in Palm Jumeirah
- AED 28 M, One at Palm Jumeirah in Palm Jumeirah
- AED 28 M, The Royal Atlantis Resort & Residences in Palm Jumeirah
And for villas:
- AED 120 M, Palm Jumeirah
- AED 40 M, MBR City.. ( Al Merkadh)
- AED 13 M, Jumeirah First
- AED 10 M, Island 2
- AED 6 M, Dubai Marina
The performing off-plan property areas are:
- MBR City (Al Merkadh) - 1032 transactions
- Dubai Hills Estates - 629 transactions
- JLT, Jumeirah Park, Jumeirah Islands - 566 transactions
- Jumeirah Village Circle - 561 transactions
- Dubai Marina - 512 transactions
The performing ready property areas are:
- Dubai Marina - 1031 transactions
- JLT, Jumeirah Park, Jumeirah Islands - 630 transactions
- Business Bay - 592 transactions
- Al Hebiah Fourth - 550 transactions
- 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
