Residential property deals in the Dubai real estate market continues to be on the rise, reaching AED1.9 billion on Thursday, January 12.
This is higher than the AED1.8 billion transactions recorded on Wednesday.
Thursday’s property deals included 432 sales transactions worth AED1.45 billion, 73 mortgage deals of AED464.03 million and 20 gift deals amounting to AED18.34 million, according to data by Dubai Land Department (DLD).
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The sales included 342 villas and apartments worth AED1.06 billion and 90 land plots worth AED384.09 million.
The mortgages included 59 villas and apartments worth AED210.76 million and 14 land plots valued at AED253.27 million.
The emirate’s real estate market has been on a bull run for the last several months, with transactions recording a jump of 61 percent since 2021, exceeding AED240 billion in 2022, according to a recent real estate agency report.
The growth is attributed to a maturing market and intention for people to stay in the emirate for longer as well as an increase in demand for villas and townhouses.
The report said investors were being offered a wider range of options as increased demand is projected to outperform supply in the coming year.
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