Last month, Dh16.69 billion was spent on Real Estate Transactions.
According to a monthly report released on Thursday, Dubai’s real estate market saw 5,797 sales transactions cost 16.69 billion dirhams last month. Making it the best January on record. In January 2022, secondary/finished properties accounted for 53% of all transactions. While off-plan properties accounted for 47%. The credit market processed 3,091 transactions cost Dh 11.37 Billion. While the off-plan market processed 2,706 residences worth a total of DH 5.32 billion.
The off-plan properties value decreased by more than 6% month over month in January 2022 compared to December 2021. However, output increased by 5.58 percent. The value of the secondary market increased by 13.68 percent and the volume continued to increase by more than 1.74 percent. When compared to December, the overall value of transactions increased by 6.40 percent. While the volume increased by 3.5 percent.
When comparing January 2022 to January 2021, there were 74.56 percent further transactions with 145.31 percent more value. The secondary volume increased by 30.70 percent. In addition, the value increased by 106.77 percent compared to the same period last year. The off-plan market experienced a significant rebound. Along with off-plan sales transaction values up 307.88 percent and volume up 183.05 percent.
“There are a lot of unanswered questions about what will happen in 2022”. Due to a variety of factors, including statistics and trend patterns. It appears that sales volume and increased prices in key and famous areas will continue to rise in 2022,” said Lynnette Sacchetto, Director of Data and Research at Property Finder Dubai.
“Since new supply will be limited in prime locations as well as certain types of assets such as villas/townhouses. We can expect rising prices in these areas as long as demand remains strong.” Investor confidence, attractive prices, the attraction of Dubai, and an overall successful project launch. Many builders have gone backward and really evaluated the market during the pandemic to comprehend. What kind of developments to build that meet all of the criteria for consumers and investors, she added.