With deals worth $490 million on a single day, Dubai real estate continues to see a rise in demand

On Tuesday, May 17, the Dubai real estate market witnessed real estate transactions totaling $490 million (AED 1.8 billion).

There were 391 sales transactions totaling AED 1.4 billion and 60 mortgage deals worth AED 336.86 million in the real estate transactions.

342 villas and flats worth AED 1.11 billion, as well as 49 land plots worth AED 295.09 million, were sold.

The mortgages included 51 houses and apartments worth AED 219.65 million and nine land plots worth AED 117.21 million, totaling more than AED 1.8 billion in real estate transactions on Tuesday.

According to data issued by the Dubai Land Department on Tuesday, the real estate transaction included 57 gift transactions totaling AED 64.67 million (DLD).

In April 2022, 6,983 real estate sales transactions totaling $4.9 billion (AED 18.2 billion) were recorded in Dubai, the biggest monthly total since 2009.

In April, secondary market sales deals accounted for 60% of the total, totaling 4,212 transactions for AED 12.86 billion, while off-plan properties accounted for 40% of the total, totaling 2,771 transactions worth AED 5.33 billion.

Source: Arabian Business

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