Highlights for June 2021:
- June 2021 had 6,388 transactions worth AED 14.79 billion
- Month-on-Month comparison showed an increase in total sales value of 33.20 percent and an increase in total sales volume of 44.33 percent
- 62.2 percent of sales transactions were in the secondary/ready market and 37.8 percent were off-plan
Highlights for Q2 2021:
- Q2 2021 had 15,638 transactions worth AED 36.86 billion
- Quarter-on-Quarter comparison showed an increase in total sales value of 46.76 percent and increase in total sales volume of 33.26 percent
- 61.5 percent of sales transactions were in the secondary/ready market and 38.5 percent were off-plan
Dubai: June 2021 had the highest total sales transaction volume since December 2013, making it the highest monthly volume of property sales transactions in eight years. June 2021 had 6,388 transactions worth AED 14.79 billion, 44.33 percent more than May 2021 in terms of volume and 33.2 percent more in terms of value.
High sales transaction volumes in April and May of 4,824 and 4,426 respectively made for a great Q2, which had the highest quarterly volume of sales transactions since Q4 2013. Q2 2021 had a total of 15,638 transactions worth AED 36.86 billion, 33.26 percent more than Q1 2021 in terms of volume and 46.76 percent more in terms of value.
This brings the year to date total to 27,373 transactions worth AED 61.97 billion. To put this into perspective, all of 2020 had a total number of 35,041 sales transactions worth AED 71.87 billion.
If we take a deeper dive into the data, and compare real estate sales transactions in both June 2021 and Q2 2021 with similar periods in 2020 and 2019 we see that the market has had significant growth and COVID was a growth accelerator for the industry.
June 2021
June 2021 compared to June 2020 has increased by 173.46 percent in terms of volume and 204.55 percent in terms of value and when compared to June 2019, June 2021 has increased by 140.87 percent in terms of volume and 179.13 percent in terms of value.
In June 2021, 62.2 percent of all transactions were for secondary/ready properties and 37.8 percent were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 2,418 properties worth a total of AED 3.5 billion and the secondary market transacted 3,970 properties worth a total of AED 11.29 billion. Comparing this to May 2021, the number of off-plan transactions in June increased by 44.44 percent and the secondary/ready property transactions increased by 44.26 percent.
“The trends this year have certainly kept us on our toes, with month-on-month increases and record breaking months for sales transactions, high investment demand from residents and foreign investment and property prices increasing across prime, popular communities. It has been a dynamic market to say the least.” commented Lynnette A Sacchetto, Director of Research & Data at Property Finder.
Q2 2021 when compared to Q2 2020 showed an increase of 183.4percent for volume and an increase of 237.79 percent for value. When compared to Q2 2019, Q2 2020 showed an increase of 78.27 percent for volume and an increase of 102 percent for value.
In Q2 2021, 61.5 percent of all transactions were for secondary/ready properties and 38.5 percent were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 6,025 properties worth a total of AED 9.17 billion and the secondary market transacted 9,613 properties worth a total of AED 27.68 billion. Comparing this to Q1 2021, the number of off-plan transactions in Q2 increased by 53.93 percent and the secondary/ready property transactions increased 22.91 percent.
Sacchetto added “Compared to Q1 2021, the overall, average secondary transaction value has increased by 17.28 percent and the average off-plan transaction value has increased by 0.83 percent. Following on from the rest of the year’s trends, Q2 outperformed previous quarters and we will most likely see this trend continue until the end of year and into 2022.”
About Property Finder – www.propertyfinder.ae
Property Finder is the leading property portal in the MENA region and Turkey that facilitates the house-hunting journey for both buyers and renters.
Founded in 2007, the website has evolved over the years as the go-to platform for developers, real estate brokerages, and house hunters to make informed decisions on all things real estate.
A UAE-born start-up, Property Finder has branched out of the country’s shores and operates in a total of seven markets, including Qatar, Bahrain, Saudi Arabia and Egypt, and has a significant stake in the second-largest property portal in Turkey, which has over 6 million monthly visitors and more than 18,000 real estate agents.
US private equity firm General Atlantic led Property Finder’s latest round of investment of a total of $120 million in 2018. This is being used to hire further exceptional talent and investing in its technology and product capabilities.
The property portal employs over 450 employees globally, of which 204 people work out of its Dubai office, and generates over six million monthly visits as a Group.
In April 2019, Property Finder announced the acquisition of JRD Group, following an increased investment in Turkish portal Zingat.
In 2014, Property Finder acquired eSimsar.com, the top property portal in Saudi Arabia, while in 2013, the Group bought out realestate.com.lb, the number 1 property portal in Lebanon, and lastly, the acquisition of Selektimmo, a Moroccan portal, to pad out sarouty.ma, Property Finder’s Moroccan offering, in 2016.
For media enquiries, please contact
Faisal Zaidi
faisal@propertyfinder.ae
© Press Release 2021
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