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Dubai real estate transactions hit $381.2 million on Thursday

Posted by Martins Olise on July 28, 2022
43 Comments

The emirate’s real estate market has been on an upward spiral in recent weeks, recording transactions over $ 1 billion on several days.

The Dubai real estate market continued its upswing, recording a total AED1.4 billion real estate transactions on Thursday, July 22.

The deals included 379 sales transactions worth AED1.09 billion, 96 mortgage deals of AED319.78 million and 18 gift deals amounting to AED35.4 million, according to data released by Dubai’s Land Department (DLD).

The sales included 359 villas and apartments worth AED755.34 million and 20 land plots worth AED331.11 million.

The mortgages included 78 villas and apartments worth AED170.89 million and 18 land plots valued at AED148.89 million.

The Dubai real estate market has been on an upward spiral in recent weeks, recording transactions over $1 billion on several days, with the single day transactions on last July 13 hitting over AED1 billion, and around $1.06 billion (AED 3.9 billion) on July 7.

Dubai witnessed a record AED22.7 billion real estate sales transactions last month – highest sales figures in the last 13 years – and reaching almost 71 percent of the total 2021 sales volume.

The June transaction figures were 32.88 percent higher in volumes and 24.21 percent in value terms on a sequential basis, compared to May 2022.

For the April-June quarter, Dubai’s property market transactions amounted to AED59.29 billion, up by 6.81 percent compared to Q1 2022.

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