Dubai’s property market has set a record on transactions for the third consecutive month. The total of Dh17.96 billion from 7,000 deals in November was the best so far. Thus, the 11-month total is Dh135.4 billion. This represents nearly 90 per cent of all the property deals in 2020.

Other big takeaways from November’s property sales in Dubai are the continued rise in offplan sales, according to the latest Property Finder data. The off-plan sales totaled Dh6.84 billion, as more investors entered the market and were willing to wait two to three years to take possession of their homes.

Sales of ready homes in November reached Dh11.12 billion as end-users and investors continue to demand immediate handovers.

“The question on everyone’s mind is are we starting to see the effects of Expo2020 in the real estate market – the trends are giving us the answers,” said Lynnette Sacchetto, Director of Research and Data at Property Finder. “The sales trends continue to thrive month-on-month and it’s interesting to note that November 2021 had the highest amount of sales transactions since Expo 2020 was announced in December 2013.”

In November, offplan volume and value increased more than 50% from October. The value of the secondary market increased 27.6 percent, while volume rose by over 17.4 percent. Offplan sales have clearly rebounded since September. Damac, Sobha Realy, and Danube are the only developers to have launched offplan projects so far.


Source: Dubai’s property sales feel the full ‘Expo Effect’; November sets another record | Property – Gulf News