RIYADH: In March 2021, real-estate transactions in Dubai jumped to 6,590 percent year on year as investors flooded into the sector.
Sales amounted to 40% to 22,9 billion dirhams ($6.2 billion) according to the Dubai Land Department (DLD) newsletter WAM reported. The second highest monthly total since February 2017 was the number of transactions. للبيع
The report revealed that the real estate sector continued to attract new investors with 5,683 in Q12021, representing 64% of the total number of investors in the period.
In Q1 2021 the value of the commissions obtained by active real estate couriers reached 392 million dirhams, with 143,374 contracts recorded in Q1 2021, 57% new and 43% renewed.
The newsletter highlighted the five most attractive areas for investors. In Q1 2021 Hadaeq Sheik Mohammed Bin Rashid rose to the top, followed by Al Thanyah Fourth, Wadi Al-Safa, Wadi Al-Safa, Nad Al-Sheba, and Wadi Al-Safa, 5. Dubai Marina, Palm Jumeirah, Business Bay, Burj Khalifa and Al Merkadh were top of the list in Q1 2021 for sales of apartments.
Reuters then reported that sales of luxurious villas, seaside apartments, and second-hand family houses jumped in March, regenerating the property market that saw a sharp fall in activity at the height of the pandemic and was in a five-year slump.
S&P Credit Analyst Sapna Jagtiani does not anticipate that the Dubai property market will be recovering until next year, the agency said.
The total value of the property and property transactions during the week ending 10 May 2021 was Dhs1,5 milliards. The total transaction amounted to 621.
Fifty plots for Dhs216.09 million were sold, 417 apartments and villas for Dhs815.89 million.
The three best transactions were Hadaeq Sheik Mohammed Bin Rashid, selling Dhs16,45 million, followed by Hadaeq Sheik Mohammed Bin Rashid, sold Dhs16,32 million, and the Hadaeq Sheik Mohammed Bin Rashid, which sold DhS16,45 million.
Al Hebiah 3rd has recorded 14 Dhs 28,98 million transactions for this week, followed by Nad Al Shiba Third with 10 Dhs 26,96 million transactions and Hadaeq Sheik Mohammed Bin Rashid, which has 8 Dhs 79 million transactions in the third position.
The three most significant transfers to apartments and villas were an apartment sold in Marsa Dubai for Dhs 96 million, an apartment was second on the list for Dhs 72 million and it was sold in Palm Jumeirah for Dhs 63 million.
The sum for the week was 508 million mortgaged properties, the highest being land in Al Nahda First, with 140 million Dhs mortgaged.
Seven properties worth Dhs14 million were granted among relatives of the first degree.
According to a report issued by the Dubai Land Department in the week ending 6th May 2021, there were 1,557 property and property transactions worth $3.4 billion (DLD). For Dhs1.87 billion, 111 plots were sold, and 1,027 apartments and villas sold. The top three were land in Al Thanayah, Fourth sold for 37.5 million dhs and then land sold in Palm Jumeirah for Dhs37 million and land sold in Al Thanayah's Fourth position for Dhs37.5 million dhs.
Dubai Land Department recently announced that a total of 6,590 Dubai real estate transactions, valued at about Dhs22,9 billion, were recorded in March 2021. According to the real estate newsletter, the sector posted a 43% growth and a 40% increase in value compared to March 2020. It also noted the second-highest number of immobilization transactions since February 2017 in March 2021.