According to the statistics released by the Land Department of Dubai, there were 2,814 real estate transactions that were conducted during the week ended August 12, 2022.
- Sales Transactions: AED 4.74B
- Mortgage Transactions: AED 4.65B
- Best Performing Day: Aug.10th, 2022 – 432 properties worth AED 2.62B
A total of 329 plots were sold at a price of around AED1.64 billion, while 1,567 villas and apartments were sold at a price of around AED 3 billion.
The top three transactions were the sale of a land plot in Nadd Hessa for AED354.41 million, followed by a land plot in Island 2 for AED90 million and a land plot in the Al Hebiah Fourth for AED 42 million.
The real estate market in Dubai is booming. There are numerous construction cranes all around the city, and new neighborhoods are popping up all around it.
During the second quarter of this year, the number of transactions reached a record high with no signs of slowing down.