May 2021, the Dubai property sales volume recorded over 4,427 transactions with a decrease of -8.9% MoM and increase by 214% compared to last year. The total value of the sales transactions exceeded AED 11.1B. The breakdown of the transactions in May 2020 vs. May 2021 is:
This outstanding improvement in the Dubai property market is not confined only when comparing with 2020 which had a lockdown period; property-trends.ae data shows that the first five months witnessed, in total, over 20,000 sales transactions (attributed mainly to ready property transactions) which is the highest since 2017. Moreover, the mortgage transactions and the villa's sales volume reached an all-time high. However, the off-plan apartments sector showed a consistent decrease since 2017.
The prices of the ready property market are what matters the most to investors because even when buying an off-plan, chances are that it will be sold once ready. The median property prices in Dubai vs. May 2020
Property prices vary based on the size and area/project hence understanding the property prices per sqft gives a better idea
Regarding apartments, 53% of the cash transactions were below AED 1M; 28% in the range of AED 1-2M; 10% between AED 2-3M. Whereas 64% of the villa cash transactions fall in the range of AED 1-2M; 22% in the range of AED 2-3M; 9% between AED 3-5M.
52% of the apartment transactions were ready and 48% off-plan. For villas, 54% of the were ready and 46% off-plan.
The top 5 performing areas for the off-plan apartments were:
For ready apartments, Dubai Marina came first with 353 apartments. The top 5 performing areas for the ready apartments were:
Regarding the off-plan villas, the top-performing areas were:
For the ready villas, the top-performing areas were:
And, finally, for the plots, the top-performing areas were:
Most Expensive Properties
Top projects with the most expensive sold apartments
AED 330 M Hotel, Address Residences Sky View 2 in Downtown Dubai
AED 28 M The Alef Residences in Palm Jumeirah
AED 28 M ONE AT PALM JUMEIRAH in Palm Jumeirah
AED 28 M THE ROYAL ATLANTIS RESORT & RESIDENCES in Palm Jumeirah
AED 27 M VIDA RESIDENCE DOWNTOWN in Downtown Dubai
AED 19 M MBR City.. ( Al Merkadh)
AED 19 M Palm Jumeirah
AED 13 M Jumeirah First
AED 8 M Island 2
AED 6 M Motor City
Get your weekly Newsletter from fäm properties about the latest news in the industry
Thanks for your interest. One of our representatives will contact you soon on your contact number or email.