Dubai, UAE—A total of 2,317 real estate transactions worth AED8.9 billion ($2.49 billion) were conducted during the week ending 16 September 2022, according to figures released by the Dubai Land Department.
A total of 227 plots were sold for AED4.35 billion, and 1,560 apartments and villas were purchased for AED3.44 billion.
The top three transactions were a land in Madinat Al Mataar sold for AED988 million, a land sold for AED259.24 million in Al Yufrah 1, and a land sold for AED988 million in Madinat Al Mataar.
Al Hebiah Fifth recorded the most transactions for this week with 66 sales transactions worth AED221.48 million, followed by Nad Al Shiba First with 39 sales transactions worth AED183.93 million, and Jabal Ali First with 33 sales transactions worth AED136 million.
The sum of the amount of mortgaged properties for the week reached 930.7 million, while 145 properties were granted between first-degree relatives worth AED205 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.