Dubai’s actual property market recorded a complete of 25,972 actual property transactions in Q1 2022, marking it the very best variety of actual property transactions since 2010 registered in a single quarter and the very best quantity since Q1 2014.
The Mo’asher, Dubai’s official gross sales and rental efficiency index launched by Dubai Land Division (DLD) in cooperation with Property Finder, highlighted Dubai’s actual property market important progress and steady upward pattern whereas it continues to supply very important insights and transparency into the Dubai actual property market.
In March 2021, the general month-to-month Index for gross sales recorded 1.249 and an index value of AED 1,215,672, the flats month-to-month Index recorded 1.285 and an index value of AED 1,100,294, and the villas/townhouses month-to-month Index recorded 1.297 and an index value of AED 2,100,519.
In the meantime, the general month-to-month index for rental in March 2021 recorded 0.950 and an index value of AED 51,322, the flats month-to-month Index recorded 0.953 and an index value of AED 47,294, and the villas/townhouses month-to-month Index recorded 0.865 and an index value of AED 131,313.
In Q1 2022, the general quarterly Index for gross sales recorded 1.251 and an index value of AED 1,186,002, the flats quarterly Index recorded 1.26 and an index value of AED 1,067,385, and the villas/townhouses quarterly Index recorded 1.234 and an index value of AED 2,094,633.
However, thee general quarterly index for rental in Q1 2022 recorded 0.947 and an index value of AED 51,177, the flats quarterly Index recorded 0.967 and an index value of AED 46,952, and the villas/townhouses quarterly Index recorded 0.851 and an index value of AED 131,639.
Dubai Actual Property had 8,399 gross sales transactions price AED 22.58 billion in March 2022; the variety of these gross sales transactions are the very best recorded previously 7 years. That is an 83 % enhance in whole gross sales transactions in comparison with March 2021 and a 109 % enhance in gross sales worth.
Throughout the month of March 2022, 60.16 % of whole gross sales had been for secondary/prepared properties and 40.4 % had been for off-plan properties 39.84 % of whole gross sales.
Moreover in March 2022, the sector noticed over 44,783 rental contracts within the Dubai market with 60.28 % of contracts had been new and 39.72 % had been renewals; 78 % belonged to annual contracts and 21 % had been pushed by non-annual.
Q1 2022 had the very best variety of actual property transactions since 2010 registered in a single quarter with a complete of 25,972 transactions. From these actual property transactions, 20,539 transactions had been on the market price AED 55.51 billion. As for the amount of gross sales transactions in Q1 2022, the off-plan market transacted 8,616 properties price a complete of AED 16.12 billion, and the secondary market transacted 11,923 properties price a complete of AED 39.39 billion.
Within the rental market, Q1 2022 noticed a complete of 160,530 rental contracts of which 51.89 % of contracts had been new and 48.1 % had been renewals. It is a 4 % enhance in whole contract quantity in comparison with This autumn 2021. The annual contracts throughout Q1 had been 79.95 % whereas non-annual contracts accounted for 20.04 %.
Trying on the general market, the highest areas that witnessed probably the most rental transactions in March 2022 had been Jabal Ali First (6,259 contracts), Al Warsan First (6,224), Enterprise Bay (5,056), Naif (5,011) and Al Karama (5,007).
