Expo 2020 continues to have a positive impact on various market sectors.
Real estate transactions in November 2021 reached seven thousand units valued at $4.9 billion. It’s the best November ever since the government started publishing data eight years ago.
According to Property Finder, in the first 11 months of the year, the total number of sales transactions reached 55,651 for $36.7 billion. That’s an 88.39% increase over the 2020 total and the highest annual sales figure since 2014. Home prices in Dubai have jumped 21% since the beginning of the year.
The total value of transactions increased 36.9% and the number increased 30.8% compared to October, the previous record month. The number and total value of real estate sales under construction jumped the most.
Since the start of Expo 2020 on Oct. 1, there have been 12,352 real estate sales worth $8.5 billion in Dubai. This included seven thousand purchases of $5.4 billion worth of completed properties and 5,352 purchases of $3.1 billion worth of properties under construction.
Quote. “Sales trends continue to evolve from month to month. It’s interesting to note that November 2021 saw the highest volume of sales transactions since December 2013,” said Lynette Sacchetto, director of research and data at Property Finder.
“It’s also interesting to note that 2021 has by far the highest number of transactions for properties under construction since 2009. The data clearly shows that investors and consumers are confident in Dubai’s future, which is underpinned by the emirate’s steady economic recovery, proactive government initiatives and attractive real estate projects.”
