Recap of Weekly Real Estate Transactions for the Week Ending 14 July 2023

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Recap of Weekly Real Estate Transactions

In the week ending 14 July 2023, Dubai experienced an impressive surge in real estate and property transactions, totaling a staggering AED 13.7 billion. A total of 3,626 transactions took place during this period.

 

The most notable transactions were centered around land in Al Goze Second, with three significant sales. The first land transaction reached an astounding AED 68.12 million, closely followed by another land in the same area, sold for AED 67.92 million. Coming in third place was a land in Al Goze Second, fetching a price of AED 67.56 million.

 

Al Goze Second emerged as the leading area for transactions, with 271 sales amounting to AED 4.4 billion. Al Hebiah Fifth secured second place, recording 142 sales valued at AED 384.78 million. Madinat Hind 4 claimed third place, with 45 sales totaling AED 60 million.

When it comes to apartments and villas, the top three transfers included an apartment in Palm Jumeirah sold for an astonishing AED 116 million, followed by another apartment in Madinat Dubai Almelaheyah, which fetched AED 74 million. Lastly, an apartment in Palm Jumeirah was sold for AED 71 million.

Mortgaged properties played a significant role in the week’s transactions, accounting for a total of AED 1.53 billion. The most valuable mortgaged property was a land in Nad Al Shiba Third, mortgaged for AED 229 million.



Furthermore, 96 properties were granted to first-degree relatives, reaching a combined value of AED 426 million.

 

In conclusion, the week ending 14 July 2023 witnessed remarkable real estate and property transactions in Dubai, highlighting the Al Goze Second area as the frontrunner.




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