For 11 months of 2021, the amount of transactions in the emirate reached $36.86 billion. Expo 2020, held in Dubai, has a tremendous positive impact.
The Government of the Emirate began publishing data on the number and total value of real estate transactions eight years ago.
In November 2021, real estate transactions reached 7,000 in number and $4.88 billion in total value.
According to Property Finder, 55,651 transactions totaling $36.86 billion were made during the 11 months of the current year. This is an increase of 88.39% over 2020 and the highest figure since 2014.
When comparing November to the previous month, the growth was 30.8% in quantity and 36.9% in value. The off-plan real estate segment grew by 50% between November and October. The number of transactions in the finished real estate segment increased by 17.4% and the value by 27.6% over the same period.
Since October 1, 2021, the start of the World Expo 2020 in Dubai, there have been 12,352 real estate sales transactions totaling $8.46 billion.
7,000 transactions were on the secondary market (finished real estate), and the remaining 5,352 transactions fell on the primary market (off-plan real estate).
Linnett Sacchetto, head of research and data at Property Monitor, points out that November has been the most successful month in real estate sales since December 2013, when Expo 2020 was announced.
Based on her words, it is now safe to say that the record figures are a consequence of the success of the world exhibition. And this year as a whole has been the most successful in off-plan property sales since 2009.
Consumers and investors are confident in the future of the market.