Weekly property deals in Dubai reach AED 13.4bn in March 2022
The recent data by Dubai Land Department or DLD reveals the property deals values reaching AED 13.4bn or $3.65bn over the last week.
What are the main takeaways?
According to the data, the total number of property transactions reached 2,333, of which 245 deals were land plots, and 1,525 transactions were apartments and villas. The total volume for the last ones amounted to AED 3.29bn.
One of the most significant deals was a land plot in Trade Centre Second. It was sold for more than AED 198m. Palm Jumeirah saw another substantial deal worth over AED 160m.
Al Merkadh outperformed any other area in Dubai regarding the number of property deals last week. The district saw 74 real estate deals worth more than AED 790m, while Al Hebiah Fifth comes a close second with 53 transactions reaching AED 113.5m.
Wadi Al Safa 5 likewise ranks high, with figures reaching 33 transactions and AED 170m of total values.
Dubai's property market: a new international hotspot
In 2021, there were more than 52,000 property transactions (apartments and villas) worth over AED 144bn made in Dubai. These numbers reflect a clear trend of swift recovery of the property market in Dubai from the pandemic thanks to the efficient measures from the government and the growing appeal of the emirate.
Spacious villas remain in high demand in the real estate market in Dubai. According to Knight Frank, prices for villas in Dubai spiked by 22% since the pandemic hit.
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