Significant Numbers in Value of Property Transactions Were Seen in Dubai Last Week

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The Dubai real estate market continues to break records. On Wednesday, October 26 2022, property transactions of AED 1.2B (USD 326.7M) were registered in the emirate. According to the Dubai Land Department (DLD) data, 371 sales transactions worth AED 1.01B (USD 274.9M), 78 mortgage deals with a cost of AED 164.26M (USD 44.7M) and 8 gift deals reaching AED 57.07M (USD 15.53M) took place on Wednesday.

It’s worth noting that the sales included 32 land plots with a total cost of AED 191.71M (USD 52.2M) and 339 apartments and villas with a cost of AED 820.86M (USD 223.48M). In terms of mortgage deals, 29 land plots worth AED 74.92M (USD 20.4M) and 49 apartments and villas worth AED 89.34M (USD 24.32M) took place.

On Thursday, October 27, Dubai property deals included 612 sales transactions worth AED 1.77B (USD 481.9M) and 109 mortgage deals with a total cost of AED 1.03B (USD 280.4M). Sales included 535 apartments and villas and 77 land plots with a total cost of AED 1.18B (USD 321.25M) and AED 588.01M (USD 160M) respectively. Mortgage deals of 83 apartments and villas amounted to AED 877.91M (USD 239M), while 26 land plots were valued at AED 156.26M (USD 42.5M).

Dubai stays a desirable destination for tourists and expats who are thinking about purchasing a real estate unit here. In H1 2022 the off-plan market of the emirate saw more than 130,000 residential units in 85 launched projects, which has shown a growth of over 130%. Purchasing an off-plan property in Dubai is a profitable investment, as developers offer attractive payment plans. In addition, you will always be able to resell a residence after the project is completed. With the development of different areas in the emirate, the ROI continues to grow, which means that you will be able to start renting the premises out and generate a stable passive income.

If you are interested in buying a residential unit in Dubai, Metropolitan Premium Properties real estate agents are always ready to provide you with the latest information. Among the recently launched developments which have already attracted attention of investors and those wishing to move to the emirate, can consider Orla by OMNIYAT on Palm Jumeirah, Binghatti Corner by Binghatti Developers in Jumeirah Village Circle and Kempinski Residences The Creek by Swiss Property UAE, located on the banks of the famous Dubai Creek.

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