Dubai property market saw 125 mortgage deals worth AED613.72 million on August 17

Dubai’s real estate market recorded $653 million (AED2.4 billion) worth of property deals on Thursday.

Thursday’s property deals included 591 sales transactions worth AED1.76 billion, 125 mortgage deals totalling AED613.72 million, and 36 gift deals amounting to AED98.44 million, data released by Dubai’s Land Department (DLD) showed.

The sales included 561 villas and apartments worth AED1.42 billion, and 30 land plots worth AED336.26 million.

The mortgages included 101 villas and apartments worth AED220.85 million and 24 land plots valued at AED392.87 million.

The city has been witnessing a robust surge in its residential real estate sector, riding on the back of a strong trajectory in off-plan property sales.

In the first half of 2023, a remarkable 57 percent of off-plan transactions in Dubai were in the price range of AED500,000 to AED2 million, demonstrating the city’s appeal to investors seeking sustainable properties.

Source : Arabian News