Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    SAUDI ARABIA UNVEILS TOP TOURISM LEADERS AND GLOBAL MINISTERS IN SPEAKER LINEUP FOR WORLD TOURISM DAY 2023

    September 23, 2023

    Grow with Huawei Cloud: Accelerating GTM and Sales with Empowered Benefits

    September 22, 2023

    Hisense Showcases Hero Mini-LED ULED Television, The U8, at ‘Portals to Beyond’ Event in South Africa

    September 22, 2023
    Facebook X (Twitter) Instagram
    Iran MirrorIran Mirror
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Iran MirrorIran Mirror
    Home » Dubai real estate sales cross AED6.74 billion in January 2021
    Business

    Dubai real estate sales cross AED6.74 billion in January 2021

    February 16, 2021

    Dubai’s real estate market recorded 3,300 sales transactions worth AED6.74 billion in January 2021, a growth of 15.5 percent in terms of transaction number and 37 percent in terms of value compared to January 2020, according to the 11th edition of Mo’asher, Dubai’s official sales price index.

    The index data, which is taken from the base year 2012, base month for the monthly index January 2012, and the base quarter for the quarterly index Q1 2012, shows that Dubai’s real estate market continues its upwards trend. This is due to the proactive measures and incentive packages launched by the Dubai Government to address the effects and consequences of the pandemic.

    The trend throughout 2020 was that secondary/ready properties started transacting more, and this trend has continued into this new year. 72 percent of all transactions in January 2021 were for secondary/ready properties, and 28 percent were for off-plan properties.

    When looking at the volume of transactions, the secondary market transacted 2,373 properties worth a total of AED5.43 billion, the highest number of secondary/ready properties transacted in a single month since March 2014. In terms of sales transactions, 70 percent were apartments and 30 percent were villas/townhouses.

    Q4 2020 was the strongest quarter in 2020 and helped the year recover the most in terms of volume and value, with 11,065 sales transactions worth AED22.07 billion. This quarter kept the momentum going for the year to start strong, and are most likely going to see this going forward into February, where there has already been more than AED3.3 billion in sales transactions in the first week. This included an AED38 million villa in Emirates Hills and a AED25.2 million villa in Jumeirah Golf Estates.

    Also, 11.5 percent of all sales for villas/townhouses in January 2021 took place in Nad Al Sheba, followed by DubaiLand (11.4 percent), Meydan (7.5 percent), Dubai Hills Estate (6 percent) and Tilal al Ghaf (4.8 percent). Looking at apartments, 12.4 percent of all sales transactions took place in Business Bay, followed by Dubai Marina (9.7 percent), Jumeirah Village Circle (9.3 percent), Downtown Dubai (5.6 percent) and Palm Jumeirah (5.4 percent) According to proprietary Property Finder demand data, the top areas of interest in terms of searches for villas/townhouses in January 2021 were Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Mohamed bin Rashid City, and Damac Hills. As for apartments for the same period, the top areas of interest were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay, and Jumeirah Beach Residence.

    Overall, the monthly Index recorded 1.069 and an index price of AED1,006,979. Apartments’ monthly Index recorded 1.127 and an index price of AED952,825, while the monthly index of Villas/Townhouses recorded 0.922 and an index price of AED1,727,562.

    Share. Facebook Twitter Pinterest LinkedIn Telegram Reddit Email

    Related Posts

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    September 11, 2023

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023

    Biden and Modi cement ties as India ascends global stage

    September 9, 2023

    Digital work revolution sees the world’s gig economy expand by 12 percent

    September 8, 2023

    ASEAN Summit in Jakarta sees PM Modi advocating India’s growing global impact

    September 7, 2023

    Goldman Sachs accused of bullying culture in £1 million lawsuit

    September 7, 2023
    Editor's Pick

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    September 11, 2023

    At the Bharat Mandapam in New Delhi, the curtains have come down on the 18th…

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023

    Biden and Modi cement ties as India ascends global stage

    September 9, 2023

    UN calls for greater female representation in police forces worldwide

    September 8, 2023

    Digital work revolution sees the world’s gig economy expand by 12 percent

    September 8, 2023

    AI drives MENA Newswire’s entry into Saudi digital media

    September 8, 2023
    © 2023 Iran Mirror | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.