Dubai Sales House Price Index - June 2021

June 2021 had the highest total sales transaction volume since December 2013, making it the highest monthly volume of property sales transactions in eight years. June 2021 had 6,388 transactions worth AED 14.79 billion, 44.33 percent more than May 2021 in terms of volume and 33.2 percent more in terms of value.

High sales transaction volumes in April and May of 4,824 and 4,426 respectively made for a great Q2, which had the highest quarterly volume of sales transactions since Q4 2013. Q2 2021 had a total of 15,638 transactions worth AED 36.86 billion, 33.26 percent more than Q1 2021 in terms of volume and 46.76 percent more in terms of value. This brings the year to date total to 27,373 transactions worth AED 61.97 billion. To put this into perspective, all of 2020 had a total number of 35,041 sales transactions worth AED 71.87 billion.

If we take a deeper dive into the data, and compare real estate sales transactions in both June 2021 and Q2 2021 with similar periods in 2020 and 2019 we see that the market has had significant growth and COVID was a growth accelerator for the industry.

June 2021

June 2021 compared to June 2020 has increased by 173.46 percent in terms of volume and 204.55 percent in terms of value and when compared to June 2019, June 2021 has increased by 140.87 percent in terms of volume and 179.13 percent in terms of value. In June 2021, 62.2 percent of all transactions were for secondary/ready properties and 37.8 percent were for offplan properties.

When we look at the volume of transactions, the off-plan market transacted 2,418 properties worth a total of AED 3.5 billion and the secondary market transacted 3,970 properties worth a total of AED 11.29 billion. Comparing this to May 2021, the number of off-plan transactions in June increased by 44.44 percent and the secondary/ready property transactions increased by 44.26 percent.

Q2 2021

Q2 2021 when compared to Q2 2020 showed an increase of 183.4percent for volume and an increase of 237.79 percent for value. When compared to Q2 2019, Q2 2021 showed an increase of 78.27 percent for volume and an increase of 102 percent for value.

In Q2 2021, 61.5 percent of all transactions were for secondary/ready properties and 38.5 percent were for offplan properties. When we look at the volume of transactions, the off-plan market transacted 6,025 properties worth a total of AED 9.17 billion and the secondary market transacted 9,613 properties worth a total of AED 27.68 billion. Comparing this to Q1 2021, the number of off-plan transactions in Q2 increased by 53.93 percent and the secondary/ready property transactions increased 22.91 percent.

Download the full report here: Sales House Price Index - June 2021