Since the launch of Expo 2020 in Dubai, the real estate market in Dubai has completed 12,352 deals worth 31.08 billion dirhams, including 7,000 deals in the ready secondary market worth 19.84 billion dirhams and 5,352 deals in the off-plan real estate market worth 11.24 billion dirhams, according to the latest report of the website. Property Finder.
According to Arab Net, the report indicated that the Dubai real estate market recorded the highest monthly sales in eight years in November 2021 thanks to the positive impact of Expo 2020 Dubai, which started 67 days ago, on the market.
November 2021 witnessed the completion of 7,000 sales transactions worth 17.96 billion dirhams, thus being the best results during the month of November ever since the government began publishing market data publicly, according to the Emirates Today newspaper.
The total sales transactions since the beginning of this year until today reached 55,651 with a value of 135.4 billion dirhams. The value of real estate transactions during only 11 months of 2021 exceeded all transactions completed in the previous year by 88.39%, recording the highest annual sales since 2014.
Last October, the ready secondary market attracted 54% of the total deals, compared to 46% in the off-plan real estate market. With regard to the volume of transactions, the real estate market sales on the scheme included 3,219 properties, with a total value of 6.84 billion dirhams. The ready-made real estate market witnessed the completion of 3,781 sales transactions worth 11.12 billion dirhams.
Comparing November and October 2021 on a monthly basis, the value and volume of off-plan real estate market sales increased by more than 50%, and the secondary market increased by more than 17.4%; Its value is 27.6%. The value of the total completed deals increased by 36.9% with an increase in their volume by 30.8% compared to October.
November 2021 witnessed an increase of 80.4% in the volume of transactions; And by 138.8% in its value compared to the same month last year. In a more realistic comparison, November 2021 saw a 45.4% increase in deal volume; And by 104.2% in its value compared to the same month in 2019.
