Dubai real estate: Buoyancy in market continues with AED2bn deals on Monday
16 May 2023, Arabian Business
Monday’s deals included 638 sales transactions worth AED 1.79 billion, 116 mortgage deals of AED188.46 million, and 17 gift deals amounting to AED 29.45 million, according to data by Dubai’s Land Department (DLD).
The sales deals included 599 villas and apartments worth AED1.45 billion, and 39 land plots worth AED335.3 million.
The mortgages included 91 villas and apartments worth AED 148.57 million and 25 land plots valued at AED39.89 million.
The emirate’s property market has been booming for the last few years, riding on the increased foreign investor interests.
The real estate transactions in the city hit $7.2bn in April, 46 percent up on last year, according to data by Property Finder.
According to the Dubai property specialist, April 2023 saw 8,077 real estate transactions, recording a 17 per cent increase in volume compared to 6,898 in the same year-ago period.