Dubai Property Market Report August 2021

There were 5,768 real estate transactions in August 2021, an increase of 136.5% compared to the previous year and a new monthly record for the time. Contrary to some of what expect, August was the best performing month in 2021 in terms of value, as seen below:

• For AED 6.3B, 3,701 (+124%) units
• 854 villas for AED 1.9 billion, a rise of 218.7 %
• 157 transactions worth AED 206.3 million (up 41.4 %) were made
• 1,056 records (+158.8%) for AED 6.6B

The value and volume of off-plan property sales, which outpaced the mortgage for the first time in 2021, are primarily responsible for this performance.

Started off the year with three new all-time records

Three all-time records were set in the first eight months of 2021:

• The total number of transactions is around 37,000. (+ 84 % compared to 2020).
• Nearly 500 luxury flats sold for more than AED 6 million (+178 percent compared to 2020).
• With more than 13,500 mortgage transactions (up 77 % to 2020), did a new milestone.

To an investor, the finished real estate market's values are critical, because even when an unfinished project is purchased without a plan, it is likely to sell when completed. Property prices in Dubai in August 2020 compared to the current average.

• One-bedroom apartment is now available for AED 1.1 million, an increase of 37.5% year over year and an increase of 21% compared to 2014.
• It's ready for AED 2.5 million, up 40.8 percent year-over-year, and up 9.7 percent from 2014.
• At AED 1.1 million, this is a significant increase of 60 percent over the previous year and 38 percent over 2014.
• the price has increased by 7.9% from the original price of AED 1.75 million (6.3 %).

So understanding property pricing per square meter will give you a better picture of what to expect.

• For AED 986 (+16%), the apartment is ready to move into (-2.6 % compared to 2014).
• For AED 836 (up 34.9 percent year over year and 17.4 percent compared to 2014), the villa is ready.
• In the past year, the price of an off-plan villa in Abu Dhabi has increased by 22.9 percent, and it has increased by 43.9 percent since 2014.

Most Expensive Dubai Properties

The best projects with the most expensive apartments sold are as follows:

• IL Primo in central Dubai costs AED 44M.
• AED 36M ONE AT PALM Jumeirah is a property located in Palm Jumeirah.
• AMNA TOUR TO BUSINESS BAY 29 AED
• Residences Dubai - The Palm at Palm Jumeirah for AED 24M.
• Address Fountain Views Residences - Tour 1 in Downtown Dubai for AED 21M.

The most expensive villas were sold in the best neighborhoods.

• Palm Jumeirah project is a 34M AED
• 17.5 million AED MBR City (Al Merkadh)
• Dubai Marina charges 12 million dirhams (AED)
• Six Million AED Estates in Dubai Hills
• It costs AED 5 million in Motor City

Due to the Expo 2020, mortgages and interest rates, the relaxation of travel restrictions, the introduction of new visa rules, and the continuation of government initiatives to make Dubai a better place, this upward trend in real estate sales in Dubai has resulted in a price increase that is expected to continue. live and start new companies.