Dubai real estate market recorded property deals worth AED1.7 billion on Tuesday, January 17, reflecting the sustained demand surge in the emirate’s property market.
Tuesday’s property deals, however, were lower than the AED2.2 billion registered on Monday.
Dubai property transactions
The property deals on Tuesday included 517 sales transactions worth AED1.12 billion, 81 mortgage deals of AED538.23 million and 10 gift deals amounting to AED92.48 million, according to Dubai Land Department (DLD) data.
The sales included 465 villas and apartments worth AED863.28 million and 52 land plots worth AED253.69 million.
The mortgages included 52 villas and apartments worth AED281.02 million and 29 land plots valued at AED257.21 million.
The Dubai real estate market has been in the grip of a bull run for several months now, with the emirate’s annual real estate transactions crossing half a trillion dirhams for the first time in 2022, according to official statistics.
Last year’s property transaction amounted to a record AED528 billion ($143.8 billion), a 76.5 percent increase from 2021.
A total of 122,658 real estate transactions were registered in the emirate in 2022, an increase of 44.7 percent from 2021.
The past year also saw 80,216 investors registering 115,183 new real estate investments valued at AED264.15 billion ($72 billion), an annual growth of 59.5 percent in volume and 78.4 percent in value.
The number of investors in 2022 grew 53 percent compared to 2021.
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