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Dubai Property Market: Weeklong Transactions Worth AED 9.1 Billion

2,926 real estate transactions of more than AED 9.1 billion were made during the week ending December 23, 2022, according to figures provided by the Dubai Land Department (DLD).

159 plots were sold for AED 877.59 million, while 2,233 houses and villas were purchased for AED 5.44 billion, according to the DLD data. Sales of land in Business Bay for AED 100 million, land in Al Sofouh First for AED 96.5 million, and land in Business Bay for AED 100 million made up the top three deals.

With 66 sales transactions totaling AED 177.34 million, Al Hebiah Fifth had the most transactions this week, followed by Al Yufrah 2 with 21 transactions totaling AED 28.72 million and Jebel Ali First with 12 transactions totaling AED 38 million.

The top three transfers for flats and villas were a Jumeirah First apartment worth AED 315 million, a Business Bay apartment worth AED 183 million, and a Palm Jumeirah apartment priced at AED 85 million.

The total value of mortgaged properties for the week came to AED 2.65 billion, with a plot on Palm Jumeirah receiving the highest mortgage amount of AED 794 million. In the meantime, 79 properties totaling AED 172 million were distributed among first-degree relatives.

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Get in touch, we’d be delighted to assist you! To know more, dial 800 HAMPTONS (42678667).

Source: Property News

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