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According to the real estate bulletin issued by Dubai Land Department (DLD) under the name ‘Real Estate Updates,’March 2021 recorded the second highest number of real estate transactions since February 2017, with 6,590 real estate transactions valued at about AED 22.9 billion,a growth in number by 43% and a growth in value by 40% compared to March 2020.
The bulletin showed that real estate transactions in Q1 2021 achieved a significant growth of 27% and 47% compared to Q1 2020 and Q1 2019, respectively.
The bulletin highlightedcontinued attractiveness of the real estate sector to new investors, as 5,683 new investors entered the market in Q1 2021, representing 64% of the total number of investors during the same period. The aforementioned figures revealed the continuity of achieving positive results in 2021, thereby continuing to enhance the trust of local and international investors in Dubai’s attractive and vibrant real estate environment.
The value of real estate brokerage commissions achieved by active real estate brokers in the real estate market reached AED 392 million in Q1 2021, while 143,374 Ejaricontracts were recorded in Q1 2021, 57% of which were new contracts and 43% were renewed contracts
The bulletin highlighted the top five areas for investor attractiveness. In villa sales, Hadaeq Sheikh Mohammed Bin Rashidtopped the list in Q1 2021,followed by Wadi Al Safa 5, Wadi Al Safa 7, Nad Al Sheba 1, and Al Thanyah Fourth. In apartment sales, Dubai Marina, Palm Jumeirah, Business Bay, BurjKhalifa, and Al Merkadh topped the list in Q1 2021.
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