Dubai Real Estate Transactions and Property Values: Weekly Recap 15 Dec, 2023

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Dubai Real Estate Transactions and Property Values: Weekly Recap 15 Dec, 2023

In the week ending 15th December 2023, the total value of real estate and property transactions in Dubai amounted to a staggering 12.9 billion AED. The number of transactions reached an impressive 3,888. Out of these transactions, 304 plots were sold, generating a total of 3.53 billion AED. Additionally, 2,744 apartments and villas were also sold, accumulating a substantial 7.15 billion AED.

 

Among the notable transactions, the highest three were recorded. Firstly, a land in Palm Jumeirah was sold for an astounding 940 million AED. Secondly, a land in Saih Shuaib 4 fetched a commendable 169.48 million AED. Finally, a land in Madinat Dubai Almelaheyah secured the third position with a sale price of 102 million AED.

Wadi Al Safa 2 emerged as the most active area in terms of transactions, with 123 sales transactions valued at 141.81 million AED. Following closely was Al Hebiah Fourth, which recorded 31 sales transactions worth a remarkable 815.56 million AED. Madinat Hind 4 secured the third position with 22 sales transactions amounting to 26.27 million AED.

 

Regarding apartment and villa transfers, the top three transactions were as follows: an apartment in Palm Jumeirah was sold for an impressive 500 million AED, followed by another apartment in Trade Center Second with a sale price of 305 million AED. Lastly, an apartment in Al Thanayah Fourth changed hands for a significant 66 million AED.

 

The total value of mortgaged properties during the week amounted to 1.77 billion AED. The highest mortgaged property was a land in Trade Center Second, valued at 364 million AED.

 

Furthermore, 236 properties were granted to first-degree relatives, amounting to a total value of 491 million AED. First-degree relatives include an individual’s parents, siblings, children, or a fully owned company by an individual.

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