December 5, 2022

Dubai Week

Complete Dubai News World

Dubai real estate recorded the highest sales in November in the last 8 years

Dubai real estate recorded the highest sales in November in the last 8 years

58.82% increase in contracts since the beginning of the year
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Total value increased by 88.39% compared to 2020
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The value of “Al Scheme” sales increased by 55.4% on a monthly basis
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The “ready” market attracts 54% of contracts
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12,352 transactions worth Rs 31.08 billion have been completed since the launch of the expo.
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Dubai: “Gulf”
Launched 67 days ago, Expo 2020 Dubai has a positive impact on the Dubai real estate market, recording its highest monthly sales in eight years in November 2021. 7,000 sales transactions worth 17.96 billion dirhams were completed in November 2021, indicating the best November results since the government began releasing market data publicly. The total number of wholesale deals since the beginning of this year to date has reached 55,651 with a value of 135.4 billion dirhams. In the 11 months of 2021 alone, the value of real estate deals was 88.39% higher than all transactions completed in the previous year, recording the highest annual sales since 2014. The secondary / ready market attracted 54% of total contracts last October. 46% of the real estate market in the rankings. In terms of volume of transactions, the real estate market sale in the project included 3,219 assets, total value of 6.84 billion dirhams.
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Readymade real estate market
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The ready-made real estate market has completed 3,781 sales transactions worth 11.12 billion dirhams. Compared to 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 by more than 17.4%; Its value is 27.6%. The value of total contracts completed increased by 36.9%, an increase of 30.8% compared to October. The volume of transactions increased by 80.4% in November 2021; Its value has increased by 138.8% compared to the same month last year. In a more realistic comparison, the November 2021 contract volume increased by 45.4%; Its value has increased by 104.2% compared to the same month of 2019.
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Expo 2020 effects
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Commenting on this, Lynette Saceto, Director of Research and Data at Property Finder, said: “Sales in this sector continue to grow on a monthly basis, with the highest number of sales since the launch of Expo 2020 in November 2021. December 2013. Here, a question arises about the effects of Expo 2020 on the real estate market. “Dubai’s off-plan real estate market peaked in 2021, with the highest off-plan sales since 2009. Data clearly shows that investors and consumers are optimistic about Dubai’s future, including government initiatives, attractive real estate projects and the Emirate. Supported by far-sightedness.

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