Dubai's Real Estate Renaissance


Dubai Real Estate

Dubai reports highest residential real estate sales figures for Q1 since 2010


According to the latest Q1 real estate market report from Valustrat, the first three months of the year witnessed the highest recorded number of home sales transactions in #Dubai since 2010.


As the emirate’s #real #estate industry continues to recover from the twin shocks of a legacy glut in supply and the coronavirus pandemic, the city saw sales of more than 6,000 ready homes in the first quarter, worth AED13.5 billion, and 3,600 off-plan properties worth AED5 billion.


The figures revealed that annually, non-mortgage sales volumes of ready homes grew 76.1%, however, off-plan sales declined 30.2%.


The report said: “When compared to the previous quarter, ready home sales were up 17.4% and off-plan sales were 8.9% higher.”

The median transacted price for ready apartments stood at AED9,171 per sqm (AED852 per sqft), which is up 9.8% on the previous quarter and up 1.5 percent year-on-year; for ready villas, the median transacted price was AED9,580 per sqm (AED890 per sqft), up 15.3% QoQ and 13.7% year-on-year.


In terms of residential rents, there was an overall fall of 11% year-on-year in Dubai, although this was not reflected across the board, with apartment rents down 18.4% compared to the same period last year, while villa rents jumped 3.9%.


In addition, the report showed residential occupancy in Dubai is currently estimated at 80%.





Interested in Company Formation in the UAE?


Synergy Gulf prides itself on providing impartial, efficient and exceptional service levels to ensure secure structures that match clients’ exact requirements are delivered quickly and efficiently. We specialise in the following service areas:


Company Formation in the GCC

Limited Liability Company (LLC)

Free Zone Entity

Branch Office

Representative Trade Office

Commercial Agency

Professional Service License


Government/PRO services

Initial Approvals

Company Licensing

Labour Department Registration

Immigration Departure Procedures

Partner Visa

Identity Cards

Staff & Family Visas

Maids Visa


Local Partnership Services

One of the most frequently incorporated commercial entities in the UAE is a Limited Liability Company (LLC). Under the law a limited liability company must have one or more local partners (shareholders) who must be a UAE national or a UAE company. The local partners are required to possess a minimum of 51% shareholding in the LLC.


For further information click here.


#companyformationuae #llcuae #llc #dubai #mainlandllc #businesssetup #UAE