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Residential Sales Price index – FEB 2022

February 2022‭ ‬continues the strong‭, ‬upward trend in all aspects of real estate sales transactions‭, ‬with 6,357‭ ‬total sales transactions making it the highest February ever in terms of sales volumes worth AED 16.28M which is a 71‭ ‬percent increase in volume and 125‭ ‬percent increase in value year-on-year‭. ‬In February‭, ‬59.6‭ ‬percent of all transactions were for secondary/ready properties‭ ‬and 40.4‭ ‬percent were for off-plan properties‭. ‬When we look at the volume of sales transactions‭, ‬the off-plan market transacted‭ ‬2,571‭ ‬properties worth a total of AED 4.4‭ ‬billion‭. ‬The ready market transacted 3,786‭ ‬transactions worth AED 11.88‭ ‬billion‭. ‬

Comparing February 2022‭ ‬month-on-month to January 2022‭, ‬off-plan sales volume fell by 5‭ ‬percent and the value decreased by 17‭ ‬percent‭. ‬Secondary volume increased by more than 22‭ ‬percent and value increased by 4.63‭ ‬percent‭. ‬Looking at overall transactions‭, ‬total transaction volume increased by 9.75‭ ‬percent and value decreased by 2.29‭ ‬percent compared to January‭.‬

The current trends in the market continue to be dynamic‭, ‬month on month‭. ‬Overall sales transactions continue to rise and stay above the 6,000‭ ‬mark‭. ‬We have seen the secondary market increase consistently‭, ‬both in transaction value and volume which shows the strength.