Dubai experienced 1,655 real estate transactions in the week ending November 3, 2023, with 277 plots sold for 5.15 billion AED and 1,378 apartments and villas sold for 3.6 billion AED. The top three transactions were a land in Madinat Dubai Almelaheyah for 505.94 million AED, another for 347.45 million AED, and a land in Burj Khalifa for 180 million AED. The total property values reached 11.7 billion AED.
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Palm Jabal Ali emerged as the leading area for transactions this week, with a remarkable 92 sales transactions worth 2.15 billion AED. It was closely followed by Madinat Hind 4, recording 46 sales transactions worth 79.58 million AED. In third place, Al Hebiah Fifth witnessed 31 sales transactions worth 163.18 million AED.
When it comes to apartments and villas, the top three transfers included an apartment sold for an impressive 112.5 million AED in Palm Jumeirah. Following closely, an apartment in Zaabeel First grabbed the second spot, being sold for 106.75 million AED. Finally, in third place, an apartment in Zaabeel First was sold for 103.25 million AED.
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The week also saw a significant number of mortgaged properties, amounting to 2.34 billion AED. The highest mortgage was observed on land in Business Bay, which was mortgaged for 375 million AED.
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Furthermore, 128 properties were granted between first-degree relatives, with a total worth of 625 million AED.
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This weekly recap of Dubai’s real estate transactions and property values is a valuable resource for investors and buyers. Providing up-to-date insights, it’s a compass guiding through Dubai’s property market trends. A must-read for those seeking a comprehensive overview of the dynamic real estate landscape in the city. Want to boost your real estate business? Reach out to Creative Agency in Dubai.