DUBAI, 26 March / WAM / The Dubai real estate market witnessed the highest number of real estate transactions recorded in a single quarter since 2010, and it is the largest since the first quarter of 2014 with a total of 25 972 real estate transactions in the first term. quarter of this year 2022.
It comes in the official indicator of the performance of sales and rents in Dubai, launched by the Dubai Land Department in collaboration with “Property Finder”. The data from the index continue to provide important analyzes and improve transparency in the Dubai real estate market as it reflects the remarkable growth and continued upward trend in it.
The general monthly sales index recorded 1,249 points during March 2021, with a value of 1,215,672 dirhams, while the monthly residential flats index recorded 1,285 points, and the value of the index reached 1,100,294 dirhams, while the monthly villas and townhouses index. 1,297 points, and the index value reached 2,100,519 dirhams.
The general monthly rental index scored 0.950 points during the month of March 2021, and the value of the index reached 51,322 dirhams. and townhouses scored 0.865 points, and the value of the index reached 131,313 dirhams.
The general quarterly sales index recorded 1,251 points during the first quarter of 2022, and the value of the index amounted to 1,186,002 dirhams, while the quarterly residential housing index scored 1.26 points and the value of the index 1,067 Has reached 385 dirhams.
The quarterly villas and townhouses index scored 1,234 points, and the index value reached 2,094,633 dirhams.
The general quarterly index of rent recorded 0.947 points during the first quarter of 2022, and the value of the index amounted to 51,177 dirhams, while the quarterly residential housing index recorded 0.967 points, and the value of the index reached 46,952 dirhams .
While the quarterly villas and townhouses index scored 0.851 points, the index value reached 131,639 dirhams.
The Dubai real estate market witnessed the largest number of real estate sales recorded in seven years, with 8,399 real estate sales transactions worth 22.58 billion dirhams in March 2022.
When comparing the performance of March 2022 with the same period of 2021, the results indicated a growth of 83% in the total number of sales transactions and a growth of 109% in terms of value.
Secondary / finished property during March 2022 recorded 60.16% of total sales transactions, compared to 40.4% in off-plan property market sales, which represents 39.84% of total sales transactions.
And the month of March 2022 recorded more than 44,783 leases, of which 60.28% were new contracts and 39.72% renewed contracts, 78% of the contracts annually and 21% of them were non-annual.
The first quarter of this year 2022 witnessed the registration of 25 972 real estate transactions, which is the highest number of real estate transactions recorded in a single quarter since 2010 … The first quarter of which witnessed the registration of 20 539 real estate sales transactions with a total value of 55.51 billion dirhams.
In terms of volume of property sales during the first quarter of this year, the non-plan real estate market recorded 8,616 sales, with a total value of 16.12 billion dirhams, while the secondary market recorded 11,923 sales, worth 39 , 39 billion dirhams.
The first quarter of 2022 witnessed the registration of 160,530 leases, of which 51.89% are new contracts and 48.1% renewed contracts, representing a 4% increase in the volume of contracts compared to the last quarter of 2021. .. Annual contracts in the first quarter represent 79.95%, while contracts The non-annual rate is 20.04%.
According to Property Finder data, the greatest demand for one-bedroom apartments, followed by two-bedroom apartments, was in very similar proportions, while villas and three-bedroom townhouses were the most popular, followed by four-bedroom villas and townhouses.
Ejari records revealed the names of the areas that saw the registration of the largest number of leases during the month of March, which included Jebel Ali First with 6,259 contracts, followed by Al Warsan First with 6,224 contracts, Business Bay with 5,056 contracts, Naif with 5,011 contracts, and Al Karama with 5,007 contracts.
Property Finder data indicated that Dubai Marina was the most sought after in searches for apartments for sale in the first quarter of 2022, followed by Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle.
Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, DAMAC Hills “Akoya at DAMAC” and The Springs were at the top of the list when it came to searches for villas and townhouses.
Dubai Marina was the most sought after in apartment rental searches last March, followed by Downtown Dubai, Business Bay, Jumeirah Village Circle and Jumeirah Lakes Towers..while Dubai Hills Estate, The Springs, Al Barsha and Arabian Ranches came out on top in terms of villa searches and townhouses.