26 April 2021

Dubai & Abu Dhabi Real Estate Market Overview Q1 2021

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MACRO ECONOMIC

Dubai real estate market posted 11.8k sales transactions worth AED 25.1 Billion in the first quarter of 2021 as compared to AED 20.85 Billion in the same term last year which represents 20% increase in the volumes.

Even though the volume of o-plan transactions in the first quarter were contracted by 29% when compared to same term last year, ready property transactions soared by 62%.

Around 11.5k units (10.5k Apartment & Serviced Apartment and 1k Villa & Townhouse units) have entered the Dubai real estate market in the first quarter of 2021.

Residential Transaction Volume (Sales)

Both the volume and value of the Dubai residential transactions continued to grow in the first quarter of 2021 at a rate of 6% increase when compared to previous quarter and 15% when compared to same term last year.

Residential Transaction Value (Sales)

Average transaction price in the ready property market stayed at AED 1.3 Million per transaction while average transaction price in the o-plan property market slightly increased to AED 1.1 Million in the first quarter.

Apartment vs Villa Transactions (Sales)

The volume of apartment transactions continued to rise in the first quarter in the ready property market but decreased in the o-plan market.

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