Dubai recorded real estate transactions worth AED1.7 billion ($472 million) on Monday, which included 562 sales transactions worth AED1.42 billion.
The transactions included 75 mortgage deals of AED271.02 million, and 42 gift deals amounting to AED94.62 million, data released by Dubai’s Land Department (DLD) showed.
The sales included 520 villas and apartments worth AED1.08 billion, and 42 land plots worth AED335.9 million, while mortgages included 64 villas and apartments worth AED258.99 million and 11 land plots valued at AED12.03 million.
Dubai real estate market recorded the highest number of first quarter transactions since 2010 registered in a single quarter and the highest volume since Q1 2014.
According to the Mo’asher, Dubai’s official sales and rental performance index that was launched by Dubai Land Department (DLD) in cooperation with Property Finder, a total of 25,972 real estate transactions were recorded in Q1 2022.
Q1 2022 recorded a total of 20,539 sales transactions worth AED 55.51 billion ($15.11 billion).