Residential Real Estate Sales in Dubai for Q1 hit highest levels since 2010
2021.05.03
In the first quarter of 2021, residential real estate sales in Dubai reached the highest level since 2010
According to Valustrat's latest first quarter real estate market report, the first three months of this year are Dubai's record for the highest number of house sales transactions since 2010.
As Dubai’s real estate industry continues to recover from the impact of the pandemic, Dubai sold more than 6,000 existing homes worth AED 13.5 billion in the first quarter, while pre-sale home sales about 3,600 sets of real estate worth 5 billion dirhams.
The figures show that the non-loan sales of adult houses increased by 76.1% annually, while the sales of pre-sold houses decreased by 30.2%.
The report said: "Compared with the previous quarter, existing home sales increased by 17.4%, and pre-sale home sales increased by 8.9%."
According to the report, in the first quarter, Dubai completed approximately 7,294 apartments, which is equivalent to more than 12% of the expected total supply this year (estimated supply in 2021 is 46,316 apartments and 10,563 villas/townhouses).
In terms of residential rent ROI, Dubai overall fell by 11% year-on-year, although this is not fully reflected. Apartment rents fell by 18.4% compared with the same period last year, while villa rents increased by 3.9%.
However, Dubai's Downtown and Business Bay performed well at this time. Even if the epidemic is raging, the rental income of residential buildings in Dubai's Business Bay is still more than 5%.
