Dubai registers more than 25000 property deals in the first three months of 2022

Mo’asher, the UAE's authorized sales price index issued by the Dubai Land Department in partnership with Property Finder, said Dubai recorded more than 25000 property transactions in the first three months of 2022. This is the highest number of property deals registered in a quarter since 2010. The total number of property transactions registered was 25,972.

Mo’asher, the UAE’s authorized sales price index issued by the Dubai Land Department in partnership with Property Finder, said Dubai recorded more than 25000 property transactions in the first three months of 2022. This is the highest number of property deals registered in a quarter since 2010. The total number of property transactions registered was 25,972.

The period of January to March registered 20,539 sales transactions which were worth Dh55.51 billion ($15.11bn).

Advertisement

DLD, on Tuesday, 26 April, said, “The data reveals Dubai’s real estate markets’ considerable growth and continuous upwards trend while it continues to provide crucial insights and translucency into the Dubai real estate market.”

In March, there were 8,399 sales transactions of Dubai property worth Dh22.58bn, which is up to 83% and 109% on a yearly basis, respectively.

The topmost regions that were searched for sale during the first three months for apartments were Downtown Dubai, Dubai Marina, Business Bay, Palm Jumeirah, and Jumeirah Village Circle, Property Finder data suggested.

Whereas the top areas looked for townhouses or villas were Palm Jumeirah, Dubai Hills Estate, Damac Hills (Akoya By Damac), Arabian Ranches and The Springs.

The property market in the United Arab Emirates (UAE), the second-largest Arab economy, has made a powerful recovery from the pandemic-driven slowdown because of the nation’s economy enhanced on the back of fiscal and monetary measures.

Pent-up demand and enhanced investor sentiment have further helped to increase property sales, especially in Abu Dhabi and Dubai, amidst the pickup in economic activity.

Advertisement

Industry experts say recent initiatives, like visas for expatriate retirees as well as the expansion of the 10-year scheme of golden visas, are expected to support the local market.

Around 44,783 rental contracts were registered in Dubai last month, with 60.3% new contracts and 39.72% renewal contracts.

The regions with the most rental transactions last month were Jabal Ali First (6,259 contracts), Business Bay (5,056), Al Warsan First (6,224), Naif (5,011) and Al Karama (5,007).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read More

Abu Dhabi Police alerts parents about dangers of leaving children in vehicles during summer

Abu Dhabi Police have alerted the public regarding the dangers of leaving their children in hot vehicles during the summer season.

CEPA between UAE and India comes into force

The Comprehensive Economic Partnership Agreement (CEPA) between UAE and India, which is the biggest bilateral trade pact between the two most significant economies, was activated on Saturday, 30 March.

Gurdip “Dev” Bath procure 1 container of ham & 1 container of turkey for St Kitts and Nevis

St Kitts and Nevis: Gurdip "Dev" Bath- Special Representative of St Kitts and Nevis made available special aid of 1 container of hams and 1...

Recent

That’s how the exes of Bennifer 2.0 react to their romance!

The rekindled romance of J Lo and Ben Affleck is these days gaining the huge limelight and the pair seems to really mean it....

UAE: World Down Syndrome Day was celebrated in Dubai

World Down Syndrome Day was celebrated in the United Arab Emirates. Several series of activities were organized in partnership with the People of Determination Council to mark the day and celebrate the people with disability. 

Medical tests in Salania Medical Complex’s laboratory likely to increase by 75% of last year, says Bahrain government

The CEO of Government Hospitals of Bahrain recently shared a statement stating that more than 21 million tests were done in the Salania Medical Complex's laboratory which is said to be an increase of 75% compared to last year.