Dubai real estate market recorded over AED1.2 billion on Tuesday, August 2, in line with the continued bull run in the emirate’s residential property market in recent months.
The Tuesday’s transactions included 396 sales deals worth AED 845.37 million, 110 mortgage deals of AED376.93 million and 11 gift deals amounting to AED96.55 million, data released by Dubai’s Land Department (DLD) showed.
The sales included 356 villas and apartments worth AED693.98 million and 40 land plots worth AED151.4 million.
The mortgage transactions included 94 villas and apartments worth AED286.71 million and 16 land plots valued at AED90.21 million.
The Tuesday’s property deal value, however, was lower than the AED 1.8 billion registered on last Wednesday, July 27.
The emirate’s market posted real estate transactions to the tune of AED 1.2 billion on Monday, July 25.
The Dubai real estate market has been on an upward spiral in recent weeks, recording transactions over $ 1 billion on several days, with the single day transactions hitting over AED 1.4 billion, AED 1 billion and AED 3.9 billion on July 22, 13 and 7 respectively.
Dubai witnessed a record AED 22.7 billion real estate sales transactions in June – highest sales figures in the last 13 years – and reaching almost 71 percent of the total 2021 sales volume.
For the April-June quarter, Dubai’s property market transactions amounted to AED 59.29 billion, up by 6.81 percent compared to Q1 2022.
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