- H1 2021 had 27,373 sales transactions worth AED 61.97 billion
- 63.7 percent of sales transactions were in the secondary/ready market and 36.3 percent were off-plan
- 27.5 percent of all sales transactions were for villas/townhouses and 72.5 percent were for apartments
Dubai: After record breaking month-on-month transactions and quarterly results for the Dubai property market, we took a look at the entire first six months of 2021. As expected, when comparing H1 2021 to H2 2020, the increase in numbers in the residential sector was across the board.
High sales transaction volumes from January to June 2021 accounted for a great first half of 2021 with a total of 27,373 transactions worth AED 61.97 billion ( USD 16.89 billion). When comparing this to H2 2020, the volume of transactions increased by 40.2 percent and the value of transactions increased by 55.87 percent.
If we take a deeper dive into the data, in H1 2021 the Dubai real estate market had 17,434 secondary/ready transactions worth AED 46.88 billion and 9,939 off-plan transactions worth AED 15.09 billion. When compared to H2 2020, secondary/ready transactions increased by 44 percent and the value of secondary/ready transactions increased by 56.28 percent. Off-plan transactions showed a slightly lesser increase when compared to the previous half year with an increase of 34.02 percent for volume of transactions and an increase of 54.61 percent in value of transactions.
Average transaction values for both secondary/ready and off-plan properties have also increased, showing an increase in the average price per transaction. The average transaction price for secondary/ready properties increased from AED 2.48 million in H2 2020 to AED 2.69 million in H1 2021. The average transaction price for off-plan properties increased from AED 1.32 million in H2 2020 to AED 1.52 million in H1 2021. This shows an increase of 8.53 percent for secondary/ready properties and an increase of 15.36 percent for off-plan properties.
“54 percent more apartments were sold in H1 2021 compared to H2 2020 and 49 percent more villa/townhouses. The increase was in both segments, and the growth of the entire residential market by approximately 50 percent.” according to Lynnette A Sacchetto, Director of Research & Data.
According to proprietary Property Finder demand data, the top areas of transactions for villas/townhouses in H1 2021 were Mohammed bin Rashid City, Dubai Hills Estate, Dubai Land, Nadd al Sheba and the Green Community. As for apartments for the same period, the top areas of sales were Business Bay, Jumeirah Village Circle, Dubai Marina, Jumeirah Lakes Towers and Downtown Dubai.
Property Finder demand data also shows that sea view, upgraded, furnished, payment plan and pool were the top keywords used by people searching for properties across Dubai in H1 2021. “This clearly shows a desire for quality amenities as people now care more about how they live and spend their money,” adds Sacchetto.
About Property Finder – www.propertyfinder.ae
Property Finder is the leading property portal in the MENA region and Turkey that facilitates the house-hunting journey for both buyers and renters.
Founded in 2007, the website has evolved over the years as the go-to platform for developers, real estate brokerages, and house hunters to make informed decisions on all things real estate.
A UAE-born start-up, Property Finder has branched out of the country’s shores and operates in a total of seven markets, including Qatar, Bahrain, Saudi Arabia and Egypt, and has a significant stake in the second-largest property portal in Turkey, which has over 6 million monthly visitors and more than 18,000 real estate agents.
US private equity firm General Atlantic led Property Finder’s latest round of investment of a total of $120 million in 2018. This is being used to hire further exceptional talent and investing in its technology and product capabilities.
The property portal employs over 450 employees globally, of which 204 people work out of its Dubai office, and generates over six million monthly visits as a Group.
In April 2019, Property Finder announced the acquisition of JRD Group, following an increased investment in Turkish portal Zingat.
In 2014, Property Finder acquired eSimsar.com, the top property portal in Saudi Arabia, while in 2013, the Group bought out realestate.com.lb, the number 1 property portal in Lebanon, and lastly, the acquisition of Selektimmo, a Moroccan portal, to pad out sarouty.ma, Property Finder’s Moroccan offering, in 2016.
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