Dubai Sales House Price Index - February 2022

February 2022 continues the strong, upward trend in all aspects of real estate sales transactions, with 6,357 total sales transactions making it the highest February ever in terms of sales volumes worth AED 16.28M which is a 71 percent increase in volume and 125 percent increase in value year-on-year. In February, 59.6 percent of all transactions were for secondary/ready properties and 40.4 percent were for off-plan properties.

When we look at the volume of sales transactions, the off-plan market transacted 2,571 properties worth a total of AED 4.4 billion. The ready market transacted 3,786 transactions worth AED 11.88 billion.

Comparing February 2022 month-on-month to January 2022, off-plan sales volume fell by 5 percent and the value decreased by 17 percent. Secondary volume increased by more than 22 percent and value increased by 4.63 percent.

Looking at overall transactions, total transaction volume increased by 9.75 percent and value decreased by 2.29 percent compared to January.

The current trends in the market continue to be dynamic, month on month. Overall sales transactions continue to rise and stay above the 6,000 mark. We have seen the secondary market increase consistently, both in transaction value and volume which shows the strength in ready properties. The lack of supply in prime, popular areas is still a factor and the continued increase in demand is causing prices to increase in these areas.

It is also interesting to note the continued interest and activity in the luxury segment, especially over the last year and a half, has done exceptionally well. In February alone, there were 25 sale transactions above 10M USD worth AED2.5 billion and six sale transactions above 20M USD worth AED1.6 Billion as per Property Finder data.

According to Property Finder proprietary data, the highest searched areas in February overall were Dubai Marina followed by Downtown Dubai, Palm Jumeirah, Dubai Hills Estate and Business Bay. To break it down further, the highest villa/townhouse searched communities were Dubai Hills Estate followed by Palm Jumeirah, Arabian Ranches, DAMAC Hills (Akoya by DAMAC) and The Springs. For apartments, the highest searched areas were Dubai Marina followed by Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle.

Download the full report here: Sales House Price Index - February 2022