Dubai’s real estate market recorded a total of 25,972 real estate transactions in Q1 2022, marking it the highest number of real estate transactions since 2010 registered in a single quarter and the highest volume since Q1 2014.
Sales in March 2021
- Overall monthly Index: 1.249; Index price: AED 1,215,672
- Apartments monthly Index: 1.285; Index price: AED 1,100,294
- Villas/Townhouses monthly Index: 1.297; Index price: AED 2,100,519
Rentals in March 2021
- Overall monthly Index: 0.950; Index price: AED 51,322
- Apartments monthly Index: 0.953; Index price: AED 47,294
- Villas/Townhouses monthly Index: 0.865; Index price: AED 131,313
Sales in March 2022
- Overall monthly Index: 1.251; Index price: AED 1,186,002
- Apartments monthly Index: 1.26; Index price: AED 1,067,385
- Villas/Townhouses monthly Index: 1.234; Index price: AED 2,094,633
Rentals in March 2022
- Overall monthly Index: 0.947; Index price: AED 51,177
- Apartments monthly Index: 0.967; Index price: AED 46,952
- Villas/Townhouses monthly Index: 0.851; Index price: AED 131,639
Dubai Real Estate had 8,399 sales transactions worth AED 22.58 billion in March 2022; the number of these sales transactions are the highest recorded in the past 7 years. This is an 83 percent increase in total sales transactions compared to March 2021 and a 109 percent increase in sales value.
During the month of March 2022, 60.16 percent of total sales were for secondary/ready properties and 40.4 percent were for off-plan properties 39.84 percent of total sales.
Additionally in March 2022, the sector saw over 44,783 rental contracts in the Dubai market with 60.28 percent of contracts were new and 39.72 percent were renewals; 78 percent belonged to annual contracts and 21 percent were driven by non-annual.
Q1 2022 had the highest number of real estate transactions since 2010 registered in a single quarter with a total of 25,972 transactions. From these real estate transactions, 20,539 transactions were for sale worth AED 55.51 billion. As for the volume of sales transactions in Q1 2022, the off-plan market transacted 8,616 properties worth a total of AED 16.12 billion, and the secondary market transacted 11,923 properties worth a total of AED 39.39 billion.
In the rental market, Q1 2022 saw a total of 160,530 rental contracts of which 51.89 percent of contracts were new and 48.1 percent were renewals. This is a 4 percent increase in total contract volume compared to Q4 2021. The annual contracts during Q1 were 79.95 percent while non-annual contracts accounted for 20.04 percent.
Looking at the overall market, the top areas that witnessed the most rental transactions in March 2022 were Jabal Ali First (6,259 contracts), Al Warsan First (6,224), Business Bay (5,056), Naif (5,011) and Al Karama (5,007).
.jpg)
