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Dubai / WAM
Dubai Land Department (DLD) has released the findings of its real estate bulletin, which reflected the flexibility of Dubai’s real estate sector since the beginning of 2021 and its adaptation to current circumstances related to the outbreak of Covid-19.
According to real estate bulletin, titled, ‘Real Estate Updates,’ 3,036 new investors entered the market in January and February 2021, representing 62 percent of the total number of investors during the same period.
The resilient nature of the sector in Dubai has boosted the trust of local and international investors in the emirate’s real estate environment and contributed to the continuity of the flow of real estate investments from the outset of the year, reaching AED14 billion by the end of February.
The bulletin revealed many other vital indicators of Dubai’s real estate market, whereby 96,396 Ejari contracts were recorded in January and February 2021, 57 percent of which were new contracts, and 43 percent were renewed contracts. Seven new projects were also registered during same period.
The bulletin also shows that January 2021 achieved a record number of mortgages, with 3,007 mortgages, representing the highest number of mortgages in just one month. The value of mortgages set a new record with a value reaching AED20.9 billion, the highest since October 2016. January 2021 also recorded the highest number of real estate transactions since March 2017, with 6,638 real estate transactions, valued at AED 29.4 billion, the highest since January 2018.
In the same context, real estate sales recorded a growth of 17 percent in January compared to January 2020, while the value of real estate brokerage achieved by active real estate brokers in the real estate market reached AED84 million in January 2021.
The bulletin highlighted the top five areas for investor attractiveness. In villa sales, Nad Al Sheba topped the list in January 2021, followed by Hadaeq Sheikh Mohammed Bin Rashid, Wadi Al Safa 5, Al Yelayiss 1, and Jumeirah 1. Hadaeq Sheikh Mohammed Bin Rashid, Dubai Investment Park 1, Wadi Al Safa 7, Al Thanyah Fourth, and Wadi Al Safa 5 topped the list in February this year.
In apartment sales, Dubai Marina, Business Bay, Palm Jumeirah, Burj Khalifa, and Al Thanyah Fifth topped the list in January 2021, whereas Dubai Marina, Business Bay, Palm Jumeirah, Burj Khalifa, and Al Merkadh topped the list in February 2021.