Dubai real estate market recorded residential property deals to the tune of AED1.5 billion on Tuesday.
Though this was lower than the AED2.4 billion worth deals registered on Monday, it showed the continued buoyancy in demand in the emirate’s property market.
Dubai real estate transactions
Tuesday’s deals included 520 sales transactions worth AED1.22 billion, 72 mortgage deals of AED216.8 million, and 15 gift deals amounting to AED98.13 million, data released by Dubai’s Land Department (DLD) showed.
The sales included 440 villas and apartments worth AED902.79 million, and 80 land plots worth AED321.11 million.
The mortgages included 63 villas and apartments worth AED187.39 million and 9 land plots valued at AED29.41 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.
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