SALES ANALYSIS (OFF PLAN & READY TRANSACTION)
Worth of residential gross sales
Within the month of December 2023, the overall variety of residential transactions amounted to 4,997, a notable lower of 37% in comparison with the figures of the earlier month. This decline was notably pronounced within the off-plan transactions phase, with a big and notable decline of 65% month-on-month. Alternatively, transactions involving ready-to-live properties noticed a decline of 14% throughout this era. It’s value highlighting that off-plan properties made up the bulk share, accounting for a big 74% of complete transactions for the month, whereas the remaining 26% associated to off-plan properties. This distribution of transactions in December has fairly an affect, particularly when you think about that these transactions characterize 4% of the overall transactions in the complete yr of 2023.
Quantity of residential gross sales
The whole worth of residential transactions for the month was AED 12.03 billion, marking a considerable decline of 37% in comparison with the earlier month’s figures. This sophisticated state of affairs reveals a nuanced distribution, with 57% of transactions attributed to turnkey gross sales and the remaining 43% carefully linked to off-plan properties. Delving deeper into the comparative evaluation with the earlier month, it turns into clear that the worth of off-plan property gross sales noticed a big and notable decline of 49%, whereas the worth of off-plan gross sales noticed a comparatively smaller however noticed a exceptional decline of 24%.
SALES ANALYSIS (APARTMENT & VILLA TRANSACTION)
Quantity of residential gross sales
Within the month of December, the mixed worth of condominium transactions elevated to AED 7.98 billion, exhibiting a notable decline of 31% in comparison with the earlier month’s figures. Considerably, flats asserted their dominant place in the true property panorama, accounting for a considerable 66% of the overall transaction worth, whereas villas contributed the remaining 34% of the overall transaction worth. A notable development additionally emerged, with the worth of villa transactions seeing a big decline of 46% in comparison with the earlier month.
Worth of residential gross sales
Throughout the realm of residential actual property, flats are firmly consolidating their dominance; they characterize roughly 80% of complete transactions, whereas villas make up the remaining 20%. Particularly, there was a noticeable 37% decline in condominium transactions in comparison with the earlier month, coupled with a concurrent 38% decline in villa transactions. This knowledge underlines the essential function that flats play in driving general housing transactions. The noticed market dynamics point out a big downward development in exercise for each flats and villas within the final month of 2023.
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