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Dubai recorded 128 transactions of houses valued at Dh20 million or more during the first six months of this year, the highest level since 2015.

Dubai clocked sales of more than 6,000 ready homes worth Dh13.5 billion and 3,600 off-plan properties worth Dh5bn in the three months from January to March.

The volume of ready home sales increased 76.1 per cent on annual basis, while off-plan sales declined 30.2 per cent.

When compared to Q4 2020, ready home sales were up 17.4 per cent and off-plan sales were 8.9 per cent higher in Q1 of 2021, according to ValuStrat.

Prime and central locations such as The Springs, Dubai Marina and Arabian Ranches are seeing an increase in demand, as people who were earlier priced out of these communities now find it affordable.

Certain pockets of the market are rebounding faster than others, with multimillion dirham home sales registering a rise in deal activity.

On an annual basis, all locations in Dubai witnessed price drops, some in single digits, in Q1 2021.

Residential capital values in Dubai in Q1 2021 were 10.9 per cent lower than the same period last year, according to ValuStrat.

Approximately 7,294 residential units were constructed in Dubai during the first quarter of 2021.

Total residential supply for 2021 is estimated at 46,316 apartments and 10,563 villas/townhouses, a ValuStrat report said.

Dubai recorded 128 transactions of houses valued at Dh20 million or more during the first six months of this year, the highest level since 2015.

Dubai clocked sales of more than 6,000 ready homes worth Dh13.5 billion and 3,600 off-plan properties worth Dh5bn in the three months from January to March.

The volume of ready home sales increased 76.1 per cent on annual basis, while off-plan sales declined 30.2 per cent.

When compared to Q4 2020, ready home sales were up 17.4 per cent and off-plan sales were 8.9 per cent higher in Q1 of 2021, according to ValuStrat.

Prime and central locations such as The Springs, Dubai Marina and Arabian Ranches are seeing an increase in demand, as people who were earlier priced out of these communities now find it affordable.

Certain pockets of the market are rebounding faster than others, with multimillion dirham home sales registering a rise in deal activity.

On an annual basis, all locations in Dubai witnessed price drops, some in single digits, in Q1 2021.

Residential capital values in Dubai in Q1 2021 were 10.9 per cent lower than the same period last year, according to ValuStrat.

Approximately 7,294 residential units were constructed in Dubai during the first quarter of 2021.

Total residential supply for 2021 is estimated at 46,316 apartments and 10,563 villas/townhouses, a ValuStrat report said.

Dubai recorded 128 transactions of houses valued at Dh20 million or more during the first six months of this year, the highest level since 2015.

Dubai house prices rise at their fastest pace in seven years

The emirate registered 128 transactions valued at Dh20m or more during the first six months of this year, the highest level since 2015, Knight Frank says

July 27, 2021

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