Property Market Performance Q2 2021

Dubai recorded 6,388 property transactions in June 2021 at an aggregate value of 14.79 billion AED, the highest volume of monthly sales registered in 8 years.

The value of property transactions in Dubai has risen by 48% in comparison to Q1. Commercial property transactions have climbed in value by 42%, while the luxury market experienced a 67% increase with 254 sales of more than 10 million AED each.

DLD measured an upsurge in ready and off-plan sales volume for Q2 across all property categories, measuring 20.26% and 76.9% higher in total quarter-on-quarter.

Palm Jumeirah achieved a record 4.27 billion AED in transaction value this quarter, maintaining its Q1 position as the community with the highest value of property transfers.

After Palm Jumeirah, Jumeirah Island and Jumeirah Golf Estates registered the highest increase in villa transaction value between Q1 and Q2 with 19%, 13.49% and 11.17%, respectively.

Q2 rental prices for villas and townhouses have climbed steadily in the majority of Dubai’s communities, measuring at 23.94% higher in Mohammed Bin Rashed City and 12.22% higher in Victory Heights.

Rental prices for apartments have increased in centrally located areas such as Palm Jumeirah and Jumeirah Beach Residence, albeit at a lesser rate when compared to villa rentals. Dubai Festival City and Discovery Gardens have registered the highest drop in rental prices at 12.29% and 11.07% lower.