Last week we saw a remarkable surge in transactions, with 236 plots sold for a staggering sum of 1.82 billion AED. Additionally, 2,302 apartments and villas changed hands, contributing to a substantial transaction value of 4.87 billion AED.
Highlighting the top three transactions of the week, a land situated in Al Thanyah Fourth claimed the first spot, fetching an impressive price of 209 million AED. Coming in second, another land in Al Barsha South Third recorded a substantial sale value of 135.56 million AED. Finally, a land in Al Barsha South Third secured the third position with a sale price of 104.03 million AED.
Among the various areas, Al Hebiah Fifth witnessed the highest number of transactions this week, totaling 73 sales transactions worth a remarkable 310.15 million AED. Following closely behind, Madinat Al Mataar and Madinat Hind 4 recorded 38 sales transactions each, with a combined worth of 191.35 million AED.
Turning our attention to apartments and villas, the top three transfers comprised a luxurious villa in Palm Jumeirah, which sold for an impressive 95 million AED. In the second spot, another villa in Palm Jumeirah fetched a substantial sum of 47.6 million AED. Finally, an elegant apartment in Zabeel First secured the third position with a sale price of 47.29 million AED.
Mortgaged properties also played a significant role in the week’s transactions, with a total value of 3.1 billion AED. The highest mortgage amount was observed for a land in Al Wasl, which was mortgaged for a substantial sum of 746.16 million AED.
Lastly, the week saw 171 properties being granted between first-degree relatives, amounting to an impressive value of 1 billion AED.
In summary , the real estate market in Dubai showcased remarkable activity in the week ending 1st September 2023. Stay tuned for more updates on the thriving Dubai real estate scene.