Absolute worth of property exchanges in Dubai broke the 12-year record last year, arriving at Dh151.07 billion, Property Finder said on Thursday.
In 2021, 59.6 percent of all exchanges were for optional/prepared properties and 40.4 percent for off-plan properties. The off-plan market executed 24,761 properties worth Dh45.5 billion and the optional market executed 36,480 properties worth Dh105.56 billion. This is likewise the most elevated auxiliary land deals exchange esteem beginning around 2008.
When contrasted with 2020, Dubai land area showed an expansion of 74.77 percent in deals exchange volume and an increment of 110.19 percent in esteem. However, when contrasted with pre-Covid times, for example, 2019, 2021 showed an expansion of 55.47 percent in volume and an increment of 90.10 percent in esteem.
In the final quarter of 2021, a sum of 17,942 exchanges worth Dh46.75 billion were recorded with both volume and worth of exchanges being the most noteworthy since Q4 2013.
In Q4 2021, 55.9 percent of all exchanges were for auxiliary/prepared properties and 44.1 percent for off-plan units. The off-plan market saw 7,913 exchanges worth an aggregate of Dh16.92 billion and the optional market executed 10,029 properties worth Dh29.82 billion.
Q4 2021 when contrasted with Q4 2020 showed an increment of 64.12 percent in deals exchange volume and an increment of 114.74 percent in esteem. When contrasted with Q4 2019, Q4 2021 showed an increment of 47.53 percent in volume and an increment of 97.59 percent in esteem.
“Regardless of the way that many chose to go without precedent for more than a year during special times of year, Q4 didn’t appear to see a log jam in deals exchanges. Financial backer feeling stays solid, request is still extremely high and supply is decreasing. This has come down on costs as they actually proceed to rise and will in all likelihood proceed into H1 of 2022,” said Lynnette Sacchetto, head of examination and information at Property Finder.
Property Finder said Expo 2020 Dubai seems to an affect the nearby housing market. Since its beginning on October 1, 2021, the Dubai housing market has seen an aggregate of 17,942 deals exchanges worth Dh46.75 billion. This is the most noteworthy volume and worth the Dubai housing market has executed during a quarter in more than 8 years.
