Dubai records 27% growth in real estate transactions in Q1 2021

 

Dubai’s real estate transactions in Q1 2021 achieved a significant growth of 27 per cent and 47 per cent compared to Q1 2020 and Q1 2019, respectively.

 

Dubai: Dubai’s real estate transactions in Q1 2021 achieved a significant growth of 27 per cent and 47 per cent compared to Q1 2020 and Q1 2019 respectively, according to the real estate bulletin issued by Dubai Land Department (DLD).

 

March 2021 recorded the second highest number of real estate transactions since February 2017, with 6,590 real estate transactions valued at about Dh22.9 billion, a growth in number by 43 per cent and a growth in value by 40 per cent compared to March 2020.

 

The bulletin highlighted continued attractiveness of the real estate sector to new investors, as 5,683 new investors entered the market in Q1 2021, representing 64 per cent of the total number of investors during the same period.

 

The value of real estate brokerage commissions achieved by active real estate brokers in the real estate market reached Dh392 million in Q1 2021, while 143,374 Ejari contracts were recorded in Q1 2021, 57 per cent of which were new contracts and 43 per cent were renewed contracts.

 

The bulletin highlighted the top five areas for investor attractiveness. In villa sales, Hadaeq Sheikh Mohammed Bin Rashid topped 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, Burj Khalifa, and Al Merkadh topped the list in Q1 2021.