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Dubai Real Estate Sales Hit Four-Year High in April as Off-Plan Market Rebounds

  • May 28th, 2021

Dubai’s property market saw 4,832 deal transactions all through April worth AED10.98 billion ($3bn) – the most elevated worth in four years – showing further how the emirate’s real estate area is proceeding with its way to recuperation.

Figures delivered in the fourteenth version of Mo’asher, Dubai’s true deals value file, dispatched by Dubai Land Department (DLD), in collaboration with Property Finder, show deals were up 4.2 percent on March and 0.6 percent as far as worth.

It takes the absolute number of properties sold up to the furthest limit of April to 16,577, worth AED36.12bn ($9.8bn).

During the month, 60% of deals exchanges were for optional/prepared properties and 40 percent off-plan. Apartment deals represented 69% of the aggregate, and 31 percent were villa/townhouses deals.

The off-plan market executed 1,934 properties worth AED3.09bn ($841m) and the optional market executed 2,898 properties worth AED7.89bn ($2.15bn).

Contrasting this with March, the quantity of off-plan deals exchanges in April expanded by 12.9 percent, the most elevated in 14 months, and the secondary/ready property exchanges diminished without precedent for a very long time by 0.92 percent.

In April, 70% of the total transactions were up to AED2m, while 23% were between AED2m to 5m, four percent were between AED5m to 10m, and three percent above AED10m.

In the villa/townhouses sector, 18.5 percent of all deals in April occurred in Mohammed Bin Rashid City, trailed by Dubailand (10.3 percent), Dubai Hills Estate (9.4 percent), Rukan (5%) and Town Square (4.9 percent).

As far as apartments, 8.5 percent of all sales transactions were done in Dubai Marina, trailed by Jumeirah Village Circle (8.4 percent), Jumeirah Lake Towers (7.6 percent), Downtown Dubai (7.3 percent) and Business Bay (5.4 percent) as indicated by the information from Property Finder.

Source: Arabian Business

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