Dubai real estate sales grow 84% in 8 months

Dubai real estate sales grow 84% in 8 months
Dubai real estate sales grow 84% in 8 months

Abu Dhabi – Mubasher: The value of real estate sales in Dubai grew by 84 percent during the first eight months of this year.

According to the data of the Land Department, the value of real estate sales amounted to 159.33 billion dirhams through 59,775 thousand transactions, compared to 86.56 billion dirhams through 36,872 thousand transactions during the corresponding period last year, according to Al-Ittihad newspaper.

Real estate sales were distributed as 41,997 housing units, 6,069 buildings, and 11,709 plots of land.

The total value of real estate transactions in Dubai during the first eight months of this year amounted to 248.49 billion dirhams, through 75,453 transactions.

Real estate sales accounted for 64.1% of the total value of real estate transactions in Dubai during the first eight months of the year, while the share of mortgages amounted to 29.6% of the total trading, compared to a share of 6.3% for gifts.

The value of mortgages in Dubai during the first eight months of 2022 exceeded about 73.65 billion dirhams through 12,777 transactions, and the value of mortgages in the emirate was distributed by 8,152 housing units, 2,146 buildings, and 4,661 plots of land. The Emirate of Dubai recorded gifts worth 15.51 billion dirhams through 2,901 transactions during the aforementioned period, and the gifts were distributed in 2,087 housing units, 135 buildings and 679 plots of land.

And last August, data from the Land Department indicated that the total value of real estate transactions amounted to 36 billion dirhams through 12,130 transactions, compared to 14.77 billion dirhams through 5,704 transactions during the corresponding period, a growth of 143%.

Dubai recorded real estate sales worth 24.31 billion dirhams through 9,734 transactions last August, and these transactions were distributed in 7,014 housing units, 875 buildings and 1,845 plots of land.

The value of mortgage transactions during the last month amounted to 9.56 billion dirhams through 1,903 transactions distributed in 1,037 housing units, 272 buildings and 729 plots of land.

The total value of the donation transactions during the month of August amounted to about 2.14 billion dirhams, through 493 transactions distributed in 363 housing units, 19 buildings and 111 plots of land.

It is noteworthy that nearly 43,000 sales transactions were completed, with an estimated value of more than 114.5 billion dirhams, during the first half of 2022.

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The article is in Arabic

Tags: Dubai real estate sales grow months

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