Dubai records thumping AED708 mn worth property transactions

Dubai’s real estate market recorded 283 sales transactions worth 580.54 million and 48 mortgage deals of AED104.87 million in addition to 12 gift transactions amounting to AED22.86 million Wednesday, data released by the emirate’s Land Department (DLD) showed.

The sales covered 194 units, 31 buildings, and 58 land plots, while the mortgages included 20 units, 5 buildings and 23 land plots, according to DLD’s website.

Dubai witnessed a notable rise in residential transactions over Q2 of 2021, with positive market sentiment and continued international buyer interest driving sales, according to the latest research by leading international real estate services firm, Chestertons.

The findings, revealed in the latest Observer: UAE Q2 2021 Market Report, showed that total residential transaction value in Dubai increased by almost 50% Quarter-on-Quarter to AED31.02 billion, up from AED20.77 billion the previous quarter.

WAM