Dubai, UAE— Dubai real estate market recorded 344 sales transactions worth AED1.77 billion ($481 million), in addition to 67 mortgage deals of AED115.99 million, and 48 gift deals amounting to AED63.51 million on Tuesday, data released by Dubai’s Land Department (DLD) showed.
The sales included 286 villas and apartments worth AED600.16 million, and 58 land plots worth AED1.17 billion, while mortgages included 61 villas and apartments worth AED103.68 million and 6 land plots valued at AED12.31 million, bringing the total realty transactions of today to over AED1.9 billion ($517 million).
Dubai real estate market recorded a total of 7,092 transactions in July 2022, which is its best performance in the past decade, said Mo’asher, the emirate’s official Sales Price and Rental Performance index.
Mo’asher said the figure demonstrates a significant increase in the overall performance of the sales transaction volume by 63.56 percent and 88.41 in terms of value year on year.
The base year for Mo’asher is 2012, and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being Q1 2012.
July 2022 sales transactions overtook July transaction’s peak in 2013 which recorded 5,024 deals.
The secondary market recorded the largest transactions, up by 59 percent in terms of volume and 70.60 percent in terms of value.
Comparing the overall year-on-year performance with the same period last year, the secondary market witnessed the highest transaction volume in July during the last decade which increased by 61.17 percent in terms of volume and 91.47 percent in terms of value.