Best July in 12 years for sales transactions volume in Dubai real estate residential market

To date in 2021 there was 1.78 percent more in sales transaction value when compared to the entire year of 2020

  

Highlights:

  • 4,384 sales transactions worth AED 11.18 billion
  • 59.4 percent of sales transactions were in the secondary/ready market and 40.6 percent were off-plan

Dubai: July 2021 was a relatively quiet month, compared to the growth we have seen over the few months in the Dubai Real Estate market, partially due to the Eid celebrations. Despite this, July still managed to have it’s mark on the industry.

July 2021 had 4,384 transactions worth AED 11.18 billion, making it the best July on record in the past 12 years. 

This brings the year to date total to 31,757 sales transactions worth AED 73.15 billion. In just 7 months, the value of real estate sales transactions has surpassed 2020 as a whole. The entire year of 2020 had 35,401 sales worth AED 71.87 billion. Coming to a close 2021 as of July 2021 was 1.78 percent more in Sales Transaction Value when compared to the year 2020.

In July 2021, 59.4 percent of all transactions were for secondary/ready properties and 40.6 percent were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 1,780 properties worth a total of AED 3.44 billion and the secondary/ready market transacted 2,604 properties worth a total of AED 7.74 billion. 

One interesting fact in the numbers is the average transaction value. In July especially we have seen this spike drastically. Overall Average transaction value increased to AED AED 2,550,014 an increase of 10.14 percent when compared to June 2021, Secondary/ready Average transaction value increased to AED 2,973,969.29 an increase of 4.62 percent and off-plan average transaction value increased to AED 1,929,801 an increase of 33.13 percent.

“In previous years, we normally saw the summer months as a slower market due to holidays and people migrating, however not this year despite the fact that many are now starting to travel. We are still seeing impressive value and volume numbers, July attested to this. The Dubai market is still and will continue to go in an upwards direction.” according to Lynnette A Sacchetto, Director of Research & Data.

According to proprietary Property Finder demand data, the top areas of interest in terms of transactions for villas/townhouses in July 2021 were the Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Damac Hills and Mohamed bin Rashid City. As for apartments for the same period, the top areas of interest were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle.

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.

For media enquiries, please contact
Faisal Zaidi
faisal@propertyfinder.ae 

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

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