Dubai, UAE — Dubai real estate market has recorded deals worth AED 2 billion ($544 million) on Monday, Dubai Land Department said.
The deals include 638 sales transactions worth AED 1.79 billion, in addition to 116 mortgage deals of AED188.46 million, and 17 gift deals amounting to AED 29.45 million.
The sales included 599 villas and apartments worth AED1.45 billion, and 39 land plots worth AED335.3 million.
The mortgages included 91 villas and apartments worth AED 148.57 million and 25 land plots valued at AED39.89 million.
April 2023 was the best month in a decade for Dubai’s real estate market, both in terms of the number of transactions and the value of these deals.
The number of transactions grew by 17 percent to 8077 in April 2023, from 6898 transactions in April 2022, according to the recent data by Property Finder, a property portal.
The value of the transactions witnessed a surge of 46 percent compared to the same month last year, reaching AED 26.5 billion ($7.21 billion).
The data said 58.2 percent of people who desire to own property were looking for an apartment, while 41.8 percent were interested in villas/townhouses. The month saw an increase in the percentage of investors or home seekers looking for apartments from 55.8 percent in April 2022 to 58.2 percent. Among home seekers, the most commonly searched apartment size was two-bedroom, accounting for 35.2 percent, followed by one-bedroom apartments at 31 percent.