Record-breaking November for Property Transactions in Dubai

As per Property Finder's latest data, Dubai property transactions hit an 8-year high for the second time in November. After a record-breaking October, this shows a surge in demand for Dubai properties.

Expo2020 increased interest in Dubai properties

The first 11 months of 2021 accumulated 55,651 sales transactions in total worth AED 135.4 billion. In comparison to 2020, we are talking about an 88.39 per cent increase. Also, these are the highest yearly sales figures recorded since 2014. Undoubtedly, Expo 2020 largely contributed to this growth, in addition to other incentives previously introduced by the UAE government. Since the beginning of Expo2020, 12,352 real estate sales transactions have been recorded worth AED 31.08 billion.

November is the second consecutive month that the real estate transactions hit eight-year highs. Furthermore, it is the most successful November for property sales transactions since the government started publicly publishing the data, with 7,000 sales worth AED 7.96 billion.

Record after record

October 2021 also broke an 8-year record for property transactions with 5,352 deals and AED 13,2 billion. Most of the transactions (54%) were ready properties. Interestingly, we can see an increase in off-plan transactions in November. Month-on-month analysis shows that off-plan market value and volume increased by more than 50 per cent while the secondary market volume showed 17.4 per cent growth. November 2021 had 80.4 per cent more transactions than November 2020 and 45.4 per cent more than November 2019. The transaction value in November 2021 increased by 138.8 per cent compared to the same month last year and by 104.2 per cent in 2019.

If you wish to seize on the momentum and buy a property in Dubai, please get in touch with us on +971 4 518 7555.