Dubai Real Estate Market Report 2021

Dubai Real Estate Market 2021

In May 2021, the Dubai property sales volume recorded over 4,427 transactions with a decrease of -8.9% MoM and an increase of 214% compared to last year. The entire value of the sales transactions crossed AED 11.1B. The breakdown of the transactions in May 2020 vs. May 2021 is:

  • 2,962 (+156.5) apartments for AED 4.8 B
  • 527 (+332%) villas for AED 1.2B
  • 141 (+340.6%) commercial for AED 166M
  • 797 (+697%) plots for AED 4.9B

This remarkable improvement within the Dubai property market isn’t confined only comparing with 2020 which had a pandemic lockdown period; Dubai property industry data shows that the primary 5 months have in total over 20,000 sales transactions mostly came from the ready property transactions which are that the highest since 2017. Moreover, the mortgage transactions and the villa’s sales reached an all-time high also. However, the off-plan apartments sector showed a uniform decrease since 2017.

Property Prices

The prices of the ready property market in Dubai are what matters foremost to investors because even when buying an off-plan, the likelihood is that it will sell once it ready. The median property prices in Dubai vs. May 2020

  • Ready apartment at AED 1.06M (+21.4% YoY) and (+10.9% vs. 2014)
  • Ready villa at AED 2.05M (+14.7% YoY) and (-21% vs. 2014)
  • Off-plan apartment at AED 747K (-32.1% YoY) and (-19.6% vs. 2014)
  • Off-plan villa at AED 1.5M (+17.8% YoY) and (-11.6% vs. 2014)

Property prices change based on the size and area of the project. But, calculate the property prices per sqft gives a broad idea.

  • Ready apartment at AED 979 (+11.4% YoY) and (-4.5% vs. 2014)
  • Ready villa at AED 729 (+19% YoY) and (-12.6% vs. 2014)
  • Off-plan villa at AED 852 (+18.8% YoY) and (+33.7% vs. 2014)
  • Off-plan apartment at AED 1,083 (-32.8% YoY) and (-22.9% vs. 2014)

Sales Value Proportions

Regarding the Dubai apartments, 53% of the cash transactions were below AED 1M; 28% in the range of AED 1-2M; 10% between AED 2-3M. Whereas 64% of the villa cash transactions fall in the range of AED 1-2M; 22% in the range of AED 2-3M; 9% between AED 3-5M.

Off-plan vs. Ready Transactions

52% of the apartment transactions in the Dubai property market were ready and 48% off-plan. For villas, 54% were ready and 46% off-plan.

Top Performing Areas

The top 5 performing areas for the off-plan apartments were:

AreaVolume
Jumeirah Village Circle (JVC)280
JLT, Jumeirah Park, Jumeirah Islands  218  
Dubai Marina161
MBR City101
Al Barsha South Third93

For ready apartments, Dubai Marina is in first position in the property market with 353 apartments. The top 5 performing areas for the ready apartments in Dubai were:

AreaVolume
Dubai Marina353
Downtown Dubai111
Business Bay101
Jumeirah Village Circle (JVC)86
JLT, Jumeirah Park, Jumeirah Islands79

  Regarding the off-plan villas in Dubai property market, the top-performing areas were:

AreaVolume
Wadi Al Safa 5110
Dubai Hills Estate74
Wadi Al Safa 724
Dubai South8
Town Square8

 For the ready villas in Dubai, the top-performing areas were:

AreaVolume
Town Square47
Emirates Living37
Dubai Hills Estates34
Mira29
Nad Al Shiba First27

 And, finally, for the plots, the top-performing areas were:

AreaVolume
Dubai Hills Estate115
Mudon, Damac Hills106
Al Hebiah Fourth97
Nad Al Shiba Third46
Me’Aisem First40

 Most Expensive Properties

Top projects in Dubai with the most expensive sold apartments

  1. AED 330 M Hotel, Address Residences Sky View 2 in Downtown Dubai
  2. AED 28 M The Alef Residences in Palm Jumeirah
  3. AED 28 M ONE AT PALM JUMEIRAH in Palm Jumeirah
  4. AED 28 M THE ROYAL ATLANTIS RESORT & RESIDENCES in Palm Jumeirah
  5. AED 27 M VIDA RESIDENCE DOWNTOWN in Downtown Dubai

Top areas in Dubai with the most expensive sold villas

  1. AED 19 M MBR City.. ( Al Merkadh)
  2. AED 19 M Palm Jumeirah
  3. AED 13 M Jumeirah First
  4. AED 8 M Island 2
  5. AED 6 M Motor City

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I have gained extensive experience working in the real estate field over the past ten years of hard work and experience from real estate knowledge in Dubai, which allowed me to communicate effectively with many different nationalities and gave me a set of skills, the most important of which is property management, buying and selling on behalf of the concerned person.
With over 5 years of Real Estate experience, and specialising in Dubai Marina, JBR, JLT , Palm Jumeirah , Emirates Hills ,Meadows , Springs , Jumeirah Park and Al Barsha, aim to help you find your ideal property and manage for both leasing ans selling to ensure an exemplary level of customer service, support and advice along the way.
I began my career in Real Estate 7 years ago. The exceptional experience that he provides to his clients is a reflection of his past roles in customer service and continued commitment to his clients.
I joined Noor Al Fajr Real Estate in 2010 known as Dubayt now and became a real member of the well-established real estate company in Dubai. Achieved a 2014 broker’s award by Dubai Properties Group.
Expert in Marketing and Selling off plan properties Specially considering the clients requirement and taking it personally and then delivering them with the perfect property.
I have gained vast experienced in working in the real estate for the past 10 hardworking and experienced years of Dubai real estate knowledge, allowing me to communicate effectively with many different nationalities and giving me a very distinctive skill set. Been through hardship so many times but at the end of the day everything pays off. Handling client with courteous voice tone and making sure after everything that I have discussed with the clients I know that I have gained their trust.
I have gained vast experienced in working in the real estate for the past 10 hardworking and experienced years of Dubai real estate knowledge, allowing me to communicate effectively with many different nationalities and giving me a very distinctive skill set. Been through hardship so many times but at the end of the day everything pays off. Handling client with courteous voice tone and making sure after everything that I have discussed with the clients I know that I have gained their trust.