Dubai posted 4,804 property sales during Ramadan 2021

Dubai recorded 4,804 property sales worth Dhs9.99bn during Ramadan 2021, marking a 211 per cent increase in transactions from a year-earlier period and 57 per cent increase compared to Ramadan 2019.

Of the transactions, 71 per cent were for apartments and 29 per cent for villa/townhouses. Meanwhile, 60 per cent of transactions were in the secondary/ready market and 40 per cent were for off-plan properties.

Ramadan 2015 came closest with 3,870 property sales transactions. The number of transactions during Ramadan since then have averaged around 2,500 every year. Ramadan 2020, however, saw 1,543 sales transactions.

“Ramadan has proven to be a strong time for real estate sales and as we can see this year the record breaking trends since the ease in lockdown continued during Ramadan. ” according to Lynnette Abad Sacchetto, director of research and data at Property Finder.

In the villas/townhouses sector, 17.3 per cent of all sales in Ramadan 2021 took place in Mohammed bin Rashid City, followed by Dubai Hills Estate (9.5 per cent), Dubai Land (8.8 per cent), Nad Al Sheba (4.8 per cent) and Arabian Ranches 3 (4.4 per cent). Looking at apartments, 10.1 per cent of all sales transactions took place in Jumeirah Village Circle followed by Jumeirah Lakes Towers (9.5 per cent), Dubai Marina (8 per cent), DownTown Dubai (7.1 per cent) and Al Jaddaf (5.9 per cent).

In Ramadan 2021, four luxury, high valued property sales over Dhs50m took place, of which three were on Palm Jumeirah ranging from Dhs70m to Dhs105m and one of them took place in Emirates Hills valued at Dhs72.3m.