Just in:
AIA Hong Kong Wins More Than 20 Accolades at MPF Ratings MPF Awards, BENCHMARK MPF of The Year Awards and Bloomberg Businessweek Top Fund Awards // Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology // Universal Language for Healthcare: General Authority Embraces Global Coding System // 2024 Lok Sabha Election Is A Historic Battle Against The Advent Of Fascism In India // Ajman Celebrates Conclusion of Ramadan Activities with Grand Ceremony // Emirates Post Speeds Up Deliveries for GCC with Special Day // The World’s First & Wettest Party: “S2O Hong Kong Songkran Music Festival” proudly returns Get an immersive water and music experience on 8-9 June during Dragon Boat Festival long weekend at Central Harbourfront Event Space! // Sharpening the Focus: Sharjah Health Department Refines Evaluation Criteria for “Healthy Schools Programme” // Hong Kong Seen Granting Mainland Investors Access to Crypto via ETFs // Court Sides with Coinbase on Wallet Service, But Staking Program Remains in Limbo // Party Nominees Refusing To Contest: Major Perception Threat For BJP // In Lok Sabha Polls In Punjab, AAP Is Advantageously Placed As Against Its Three Rivals // Arvind Kejriwal Gets International Heft Against The Deshi Vishwaguru // Konica Minolta is named ASEAN 2023 Market Leader in Colour Light and Mid Digital Production Printers // Arvind Kejriwal Was Used By BJP In 2011 Movement To Take On The Congress // Near Miss at Kolkata Airport: IndiGo Plane Makes Contact with Stationary Air India Express // HSBC Streamlines Gold Investment for Hong Kong Residents with Tokenized Product // Lisboeta Macau’s world first LINE FRIENDS PRESENTS CASA DE AMIGO and BROWN & FRIENDS CAFE & BISTRO has officially opened // Experts come together to support updating the city’s nature conservation masterplan // Employer Obligations Tighten: 30-Day Deadline for Emirati Employee Registration with GPSSA //
HomeExpo2020Mo’asher shows demand for ready to move in villas/townhouses at an all-time high with growth of over 500% since May 2020

Mo’asher shows demand for ready to move in villas/townhouses at an all-time high with growth of over 500% since May 2020

  • This remained a record-breaking month for secondary/ready villas/townhouses with 665 unit transfers
  • 1013 villas/townhouses and a total of 2,031 apartments were transferred in October
  • In October 2020, Dubai’s overall Index reached 1.092 

Dubai, UAE – Dubai Land Department (DLD), in cooperation with Property Finder, has launched the seventh edition of Mo’asher, Dubai’s official sales price index. The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being Q1 2012.

In October 2020, DLD recorded a total of 3,395 sales transactions worth AED 6.93 billion with 37.2% in the off-plan segment and 62.8% in the secondary segment. This brings the year-to-date total to 27,815 sales transactions worth AED 57.43 billion.

Latifa Ibrahim Ahmed, Director of the Real Estate Studies & Research Department at DLD, said: “We are proud to issue this index every month and provide it to researchers and those interested in the real estate market such as developers and investors. It is designed to give a comprehensive and transparent view of the market movement in general. Among the most important data that can be obtained this month is the emergence of strong signs of recovery in the market and its return to normal paths across the various segments of real estate units, especially through the demand for luxury units, and the registration of sustainable growth month after month. Overall, this means that the market will enter the new year strongly, especially if we take into account the growing momentum of preparations for Expo Dubai.”

ADVERTISEMENT

Overview

October 2020 was a strong month for Dubai residential real estate. In October, Dubai saw 3,395 property sales transactions worth AED 6.93 billion, bringing the overall total for sales transaction to 27,815 with a total value of AED 57.43 billion.

Based on Property Finder’s data, 665 secondary or ready to move in villas/townhouses were transferred in October, which is 7.2% higher than the second highest month, September 2020 with 605 transactions. This figure is 34% higher than the third highest month ever, July 2020 with 496 transactions. The past four months had the highest number of transactions for villas/townhouses consistently, with each month being at an all-time high and the record broken the very next month. This consistent growth started after May 2020, which had 110 transactions and has since grown by over 500%.

Lynnette Abad, Director of Research & Data for Property Finder, said, “Prices for villas/townhouses became more affordable over the years making it an extremely attractive option for real estate investors. Since the pandemic started, many started to spend more time in their homes. This prompted a new trend and people started to want more space and outside spaces for their family. People also started to migrate away from densely populated city centres and towards the suburbs. All of this has led to an all-time high transaction volumes in Dubai for villas/townhouses over the past few months.”

Dubai’s overall index has remained stable at 1.092. The Dubai apartment and villa/townhouse index remained steady as well due to more affordable units coming into the ready market.

ADVERTISEMENT

The most popular areas for secondary (ready) villas/townhouses in October 2020 were Nad Al Sheba (11.8%), Town Square (7.8%), International City (6.7%), Arabian Ranches (6.4%) and Dubai Hills Estate (5.9%). 39% of the transactions were for 4-bedroom units, 34.7% for 3-bedroom units and 14.8% for 5-bedroom units.

Looking at proprietary data from Property Finder, the search trends shows that the top five locations for consumers searching for villas/townhouses were Dubai Hills Estates, Arabian Ranches, Palm Jumeirah, Damac Hills, and Mohammed bin Rashid City. Keywords such as ‘upgraded’, ‘pool’ and ‘furnished’ were the top three keywords in October 2020.

Overall for this month, 1013 villas/townhouses were transferred in both the off plan and secondary market. A total of 2,031 apartments were transferred with 1,128 in the secondary market and 903 in the off plan market.

Another highlight for October was the sale of 11 luxury apartments over three projects on Palm Jumeirah and Downtown worth over AED 15 million each for a total of AED 220.7million. The most expensive apartment was sold for AED 30 million in One at Palm Jumeirah. All these units were north of 5,000 sq ft and the largest touching 15,000 sq ft in The W residences worth AED 22.73 million.

To download Mo’asher, please visit the following links: 

https://dubailand.gov.ae/en/studies/research/sales-house-price-index-october-2020/#/ 

https://www.datafinder.ae/moasheroctober 

© Press Release 2020

via www.zawya.com

ADVERTISEMENT

ADVERTISEMENT
Just in:
Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // The World’s First & Wettest Party: “S2O Hong Kong Songkran Music Festival” proudly returns Get an immersive water and music experience on 8-9 June during Dragon Boat Festival long weekend at Central Harbourfront Event Space! // Hope for Respite as UAE Endorses UN Plea for Gaza Truce // HSBC Streamlines Gold Investment for Hong Kong Residents with Tokenized Product // Study: Stainless steel circular economy significantly reduces the risk of climate change in Thailand // Hong Kong Seen Granting Mainland Investors Access to Crypto via ETFs // Superland Announced Annual Results for 2023, 2023 Net Profit Increased approximately 39.5% to approximately HK$22.2 million as Compared to the 2022 Adjusted One // Hullabaloo About Electoral Bonds May End Up As A Whimper Pre And Post Poll // Meta Earth Official Website Launch: The Pioneer Explorer in the Modular Public Blockchain Domain // Court Sides with Coinbase on Wallet Service, But Staking Program Remains in Limbo // Andertoons by Mark Anderson for Thu, 28 Mar 2024 // Near Miss at Kolkata Airport: IndiGo Plane Makes Contact with Stationary Air India Express // Konica Minolta is named ASEAN 2023 Market Leader in Colour Light and Mid Digital Production Printers // Ajman Celebrates Conclusion of Ramadan Activities with Grand Ceremony // AI Boost for Galaxy Devices: Samsung Expands One UI 6.1 Update // 2024 Lok Sabha Election Is A Historic Battle Against The Advent Of Fascism In India // Party Nominees Refusing To Contest: Major Perception Threat For BJP // Arvind Kejriwal Gets International Heft Against The Deshi Vishwaguru // Emirates Post Speeds Up Deliveries for GCC with Special Day // Renewables Surge Sets Record, But Global Equity Lags //