Property acquisition deals in Dubai recorded another high on Monday at AED2.2 billion, reflecting the continued buoyancy in demand for residential real estate assets in the emirate.
Monday’s deals included 425 sales transactions worth AED1.23 billion, 114 mortgage deals of AED965.96 million and 17 gift deals amounting to AED72.5 million, according to the Dubai Land Department (DLD).
Dubai real estate transactions
The sales included 398 villas and apartments worth AED1.04 billion and 27 land plots worth AED187.77 million.
The mortgages included 84 villas and apartments worth AED248 million and 30 land plots valued at AED717.96 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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