The Dubai real estate market recorded a total of 17.53 billion dirhams in transactions during the current week, with 5,129 procedures taking place, according to data from the “Dubai Rest” application of the Land Department in the emirate. Out of this total, sales accounted for 13.34 billion dirhams, with 4,182 deals completed.
In terms of property sales, the Wadi Al Safa 7 region had the highest volume at 1.51 billion dirhams, followed by “Meaisem II” and “Wadi Al Safa 5” at 1.42 billion dirhams and 1.03 billion dirhams respectively. Of the properties sold, 3,054 were residential units, with apartments making up the largest share at 1,926 units. Villas (buildings) recorded 436 unit sales while land sales reached 692 transactions.
Mortgages amounted to 2.95 billion dirhams from 750 procedures, with “Al Barsha 3” and “Adbi Marina” ranking as the top areas for mortgages. Donations also reached a significant amount through various procedures; they totaled at approximately 1.24 billion dirhams through over a hundred transactions.
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Overall, the Dubai real estate market continues to be a hot topic for investors and individuals interested in property transactions due to its potential growth opportunities and attractive investment options.
The data shows that there was an increase in transaction volume during this week compared to previous weeks. Sales accounted for more than half of all transactions made during this week alone.
Furthermore, residential properties continue to be a popular choice among buyers due to their affordability and high demand in Dubai’s growing population.
Lastly, donations made through various procedures have also increased significantly during this week compared to previous weeks.
