Dubai Real Estate Market Report 2021

• 2,962 (+156.5) apartments for AED 4.8 B
• 527 (+332%) villas for AED 1.2B
• 141 (+340.6%) commercial for AED 166M
• 797 (+697%) plots for AED 4.9B

This remarkable improvement within the Dubai property market isn’t confined only comparing with 2020 which had a pandemic lockdown period; Dubai property industry data shows that the primary 5 months have in total over 20,000 sales transactions mostly came from the ready property transactions which are that the highest since 2017. Moreover, the mortgage transactions and the villa’s sales reached an all-time high also. However, the off-plan apartments sector showed a uniform decrease since 2017.

Property Prices

The prices of the ready property market in Dubai are what matters foremost to investors because even when buying an off-plan, the likelihood is that it will sell once it ready. The median property prices in Dubai vs. May 2020

• Ready apartment at AED 1.06M (+21.4% YoY) and (+10.9% vs. 2014)
• Ready villa at AED 2.05M (+14.7% YoY) and (-21% vs. 2014)
• Off-plan apartment at AED 747K (-32.1% YoY) and (-19.6% vs. 2014)
• Off-plan villa at AED 1.5M (+17.8% YoY) and (-11.6% vs. 2014)

Property prices change based on the size and area of the project. But, calculate the property prices per sqft gives a broad idea.

• Ready apartment at AED 979 (+11.4% YoY) and (-4.5% vs. 2014)
• Ready villa at AED 729 (+19% YoY) and (-12.6% vs. 2014)
• Off-plan villa at AED 852 (+18.8% YoY) and (+33.7% vs. 2014)
• Off-plan apartment at AED 1,083 (-32.8% YoY) and (-22.9% vs. 2014)

Sales Value Proportions

Regarding the Dubai apartments, 53% of the cash transactions were below AED 1M; 28% in the range of AED 1-2M; 10% between AED 2-3M. Whereas 64% of the villa cash transactions fall in the range of AED 1-2M; 22% in the range of AED 2-3M; 9% between AED 3-5M.

Off-plan vs. Ready Transactions

52% of the apartment transactions in the Dubai property market were ready and 48% off-plan. For villas, 54% were ready and 46% off-plan.

Top Performing Areas

The top 5 performing areas for the off-plan apartments were:

For ready apartments, Dubai Marina is in first position in the property market with 353 apartments. The top 5 performing areas for the ready apartments in Dubai were:

  Regarding the off-plan villas in Dubai property market, the top-performing areas were:

 For the ready villas in Dubai, the top-performing areas were:

 And, finally, for the plots, the top-performing areas were:

 Most Expensive Properties

Top projects in Dubai with the most expensive sold apartments

1. AED 330 M Hotel, Address Residences Sky View 2 in Downtown Dubai

2. AED 28 M The Alef Residences in Palm Jumeirah

3. AED 28 M ONE AT PALM JUMEIRAH in Palm Jumeirah

4. AED 28 M THE ROYAL ATLANTIS RESORT & RESIDENCES in Palm Jumeirah

5. AED 27 M VIDA RESIDENCE DOWNTOWN in Downtown Dubai

Top areas in Dubai with the most expensive sold villas

1. AED 19 M MBR City.. ( Al Merkadh)

2. AED 19 M Palm Jumeirah

3. AED 13 M Jumeirah First

4. AED 8 M Island 2

5. AED 6 M Motor City