Dubai real estate market recorded deals worth AED1.4 billion ($381 million) on Tuesday, including 387 sales transactions worth AED1.15 billion.
The transactions also included 68 mortgage deals of AED149.38 million, and 85 gift deals amounting to AED140.85 million, data released by Dubai’s Land Department (DLD) showed.
The sales included 336 villas and apartments worth AED913.23 million, and 51 land plots worth AED241.01 million, while mortgages included 53 villas and apartments worth AED117.45 million and 15 land plots valued at AED31.94 million.
Transactions worth AED1.7 billion ($472 million) were recorded on Monday, which included 562 sales transactions worth AED1.42 billion.
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).