Dubai Real Estate Sector Broke Sale Record of 8 Years in November 2021

  • 10 months ago
  • Real Estate Dubai,
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In November, the total number of real estate transactions for the year was 55,640, valued at dh 135.4 billion.

The year 2021 has been better than many years. Since the beginning of this year, November has been a glorious month in real estate business transactions. In November, the number of property transactions reached 135.4 billion dirhams worth 55640. This is a wonderful record so far.

Since its inception in October, Expo 2020 has had a significant impact on the Dubai property sector. November set an unbreakable record for monthly sales, with the highest monthly results in the last eight years.

In November, the Dubai Land Department (DLD) registered 6,989 sales transactions for 17.95 billion AED. Since January 2014, this is the biggest achievement.

In November 2021, the number of commercial transactions reached 55,640, valued at 135.4 billion AED, up from the start of the year. According to DLD data, the total amount of real estate sales transactions has increased by 88.37 percent since 2020. Since 2014, this is the largest annual turnover.

Even as secondary/manufactured residences accounted for 54 percent of all transactions in the preceding month, off-plan properties accounted for 46 percent. ” The off-plan market has obtained 3,217 properties at a total of 6,840 million DH in volume. According to the DLD, the loan market has completed 3,772 transactions totaling Dirham 11,110 million.

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The out-of-plan volume of transactions climbed by more than 50 percentage points on a monthly, while secondary volume increased by more than 17% and value increased by 27.43%. Since October, the overall value of sales transactions has climbed by 36.82 percent, while the number has expanded by 30.59 percent.

Annualized, there were 80.1 percent more sales transactions in November 2021, valued at 138.7 percent more. For a more accurate comparison, in November 2021, there were 45.2 percent more sales transactions, worth 104.1 percent higher, than in November 2019.

The value of real estate transactions in 1,974 deals for the week ending December 16, 2021, was 7.13 billion dirhams.

A total of 1,337 apartments and villas were sold for 2.95 billion dirhams, with 225 plots selling for DH 1,050 million.

The land of Saih Shuaib 2 was sold for DH 46.08 million in the first three deals, followed by Al-Barsha for DH 35.5 million and the second land for DH 46.08 million.

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With 96 sales transactions for 286.29 million dirhams, Jebel Ali had the most transactions this week. We can conclude that Jabal Ali rose to prominence in November.

Wadi Al-Safa 5 is next, with 18 sales transactions totaling DH 157.36 million and 15 sales transactions totaling Dh 66 million.

Achievements of the Month

With these incredible milestones, we can confidently declare November to be the King Month in Dubai’s history.

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