The Dubai Land Department reported a total of 4,935 residential sale transactions across Dubai in the month of September 2021.
2,444 transactions were Off Plan Developer Oqood Registrations of 1,503 apartments and 790 villa/townhouses. Mohammed Bin Rashid City, Business Bay, Dubai Harbour, JLT and Downtown were the top five transacted areas in off plan apartments. Villanova, Dubai South, Arabian Ranches 3, The Valley and Tilal Al Ghaf topped the most transactions/registrations by Developers in September.
The Secondary market transacted 3,928 in residential sales,1,679 apartments and 963 villa/townhouses. Business Bay, Jumeirah Village Circle, Dubai Marina and Downtown were the top five transacted areas for apartments and Damac Hills 2, Damac Hills, Dubai Hills Estate, Emirates Living and Nad Al Sheba held the most transactions for villas/townhouses.
Transactions by Bedroom:
Future Supply 2021 – 2026
Including all of the released projects to date, there are a further 59,036 residential properties coming onto the market between now and 2026. This is only a half of the properties which have handed over in the last couple of years with Dubai Hills, Arabian Ranches and Downtown being the main areas of recent handovers. The Marina only has another 1,700 units to be completed which 70% is in one building.
48,026 of this supply are apartments, mainly in Business Bay, Mohammad Bin Rashid City, Creek Harbour, Downtown and JVC.
There are a few launches which we are expecting, mainly in Arabian Ranches and particularly in Business Bay with Select Groups waterfront development called Peninsula, dubbed the new Dubai Marina.
As you can see from the data above the Dubai Market is still strong with people from all over the Globe coming to live or invest.
if you own a property and would like a up to date valuation or if you are looking for a good investment and/or home please get in touch.
Laura Victoria Adams
Data source propertymonitor.ae