Dubai real estate market booms

Dubai's real estate market has recorded its highest November sales figures for eight years.

Seven thousand sales transactions were registered last month, worth AED17.96 billion, making it the best November on record since figures were made public.

Overall the year to date has listed 55,651 sales, worth AED135.4 billion - over 88 per cent more than 2020 as a whole and already the highest yearly figures since 2014.

Compared to figures for October, the total transaction value increased by 36.9 per cent and volume increased by 30.8 per cent.

Comparing overall performance for the month compared to November 2020, November 2021 had 80.4 per cent more transactions worth 138.8 per cent more in value.

For a more realistic comparison when we compare it to November 2019, November 2021 had 45.4 per cent more transactions equating 104.2 per cent more in value.

"It is also interesting to note that 2021 to date had the highest off-plan value since 2009 which was the peak for off-plan sales in Dubai," said Lynnette Sacchetto, Director of Research and Data at Property Finder. 

"The data clearly shows that investors and consumers are confident in Dubai’s future which is reinforced by proactive government initiatives, attractive real estate projects and the vision of the city," she added.