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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:
- 2,962 (+156.5) apartments for AED 4.8 B
- 527 (+332%) villas for AED 1.2B
- 141 (+340.6%) commercial for AED 166M
- 797 (+697%) plots for AED 4.9B
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.
Sales Value Proportions
Regarding apartments, 53% of the cash transactions were below AED 1M; 28% in the range of AED 1-2M; 10% between AED2-3M. 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 AED3-5M.
Off-plan vs. Ready Transactions
52% of the apartment transactions were ready and 48% off-plan. For villas, 54% of the were ready and 46% off-plan.
Top Performing Areas
The top 5 performing areas for the off-plan apartments were:
Most Expensive Properties
Top projects with the most expensive sold apartments
1. AED 330 M Hotel, Address Residences Sky View 2 in Downtown Dubai
2. AED 28 M The Alef Residences in Palm Jumeirah
3. AED 28 M ONE AT PALM JUMEIRAH in Palm Jumeirah
4. AED 28 M THE ROYAL ATLANTIS RESORT & RESIDENCES in Palm Jumeirah
5. AED 27 M VIDA RESIDENCE DOWNTOWN in Downtown Dubai
Top areas with the most expensive sold villas
1. AED 19 M MBR City.. ( Al Merkadh)
2. AED 19 M Palm Jumeirah
3. AED 13 M Jumeirah First
4. AED 8 M Island 2
5. AED 6 M Motor City
© Press Release 2021
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