Dubai records 3,787 real estate sales transactions worth $2bln in February 2021

Dubai records 3,787 real estate sales transactions worth $2bln in February 2021

DUBAI - Dubai's real estate market recorded 3,787 sales transactions worth AED7.43 billion in February 2021, a 13.8 percent increase from January 2021 in terms of volume and 8.9 percent rise in terms of value, according to the 12th edition of Mo'asher, Dubai's official sales price index that was launched by Dubai Land Department (DLD) in cooperation with Property Finder.This brings the year's total, up until end of February, to 7,114 sales transactions worth AED14.2 billion, said a press release issued by DLD on Sunday.The index data, which is taken from the base year 2012, base month for the monthly index January 2012, and the base quarter for the quarterly index Q1 2012, shows that Dubai's real estate market continues its upwards trend. After a slight dip in January, the index numbers are back on the rise.Additional trends that started observing in H2 2020 were secondary/ready properties transacting higher, volume wise, than off-plan properties. This trend also continued into 2021, and the demand in the ready market continued to grow as February 2021 now holds the record for the most secondary/ready property sales transactions in a single month over the past three years, surpassing January's numbers.In February, 67 percent of