The Dubai real estate market posted a total transaction of over AED1.2 billion ($326.7 million) on Monday, July 25, reflecting the continued bullish trend in the emirate’s property market. The Monday’s property deals included 446 sales transactions worth AED1.07 billion, 85 mortgage deals of AED168.99 million and 29 gift deals amounting to AED34.46 million, according to data released by Dubai’s Land Department (DLD).
The sales included 376 villas and apartments worth AED803.87 million and 70 land plots worth AED261.85 million. The mortgages included 67 villas and apartments worth AED142.29 million and 18 land plots valued at AED26.71 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 hitting over AED1.4 billion, AED1 billion and AED3.9 billion on July 22, 13 and 7 respectively. 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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