Dubai Records Over $493m Worth Of Property Sales on Monday
The real estate market in Dubai saw many property deals on Monday, with total values hitting over $493m.
According to Dubai’s Land Department (DLD), there were a lot of property sales in Dubai on Monday as the heated real estate market shows no signs of a possible cooldown. Experts reported 482 sale deals ($324m) and 136 mortgage purchases ($158.2). In addition, the market saw 14 gift deals ($10.4m) on Monday.
Sold properties included 391 villas and apartments ($218m) and 91 land plots ($107m). Similar trends are relevant for the new build market and off-plan projects in Dubai, as the appeal of growing real estate markets drives an influx of foreign buyers and investors in Dubai.
Real Estate Buying Trends In Dubai
As for mortgage deals, buyers purchased 107 villas and apartments, worth total values hitting $37m. In turn, the total value of 29 land plots sales reached $121m.
In total, property transactions hit $493m on Monday, which is a staggering result, even for the heated and competitive property market in Dubai.
Moreover, the last week saw $4bn of property sales in Dubai, justifying the rapidly rising appeal of owning a home in Dubai. Some of the most significant transactions were villas and apartments in Jumeirah Second and Palm Jumeirah. It is not surprising, given the excellent location and residential appeal of the districts.