Dubai Real Estate Market Report Q3 2021
The overall residential transactions volume went up slightly (3%) in the third quarter of 2021 when compared to the previous quarter. As it was expected, the off-plan market continued to grow in the third quarter (16%, when compared to the previous quarter) while the secondary market started to lose its dominance as it dropped by 6% in terms of volume when compared to the previous quarter. Compared to the same period last year, the volume of overall transactions is up by over 89%. This change in market sentiment in favor of off-plan properties signifies the return of normalcy to the market. Investment in off-plan projects shows the trust the investors have in the future of the economy. The value of off-plan transactions went up by 48% in terms of value when compared to the previous quarter compared to just 16% increase in volume, which shows that the off-plan prices are increasing.