According to Property Finder, 2021 broke a 12 year record in terms of real estate sales transactions as there was the highest value of real estate sold since 2009, 110% more than 2020.
In 2021, 59.6 % of all transactions were for secondary properties and 40.4 % were for off-plan properties.
The off-plan market transacted 24,761 properties worth a total of $12.4 bn (AED 45.5 bn) and the secondary market transacted 36,480 properties worth a total of $28.7 bn (AED 105.56 bn).
Additionally, 2021 when compared to 2020 showed an increase of 74.77 % in sales transaction volume and an increase of 110.19% in value.
Lynnette Sacchetto, Director of Research and Data at Property Finder commented: “Despite the fact that many decided to travel for the first time in over a year during the holidays, Q4 didn’t seem to see a slowdown in sales transactions.