H1 Report Shows The Volume Of Dubai Land Transaction Is Going UpTuesday, August 07, 2012
A senior official associated with Dubai real estate sector reveals that the volume of land transactions in Dubai has reached AED 636 billion in the first half of 2012. It is 21 percent more than the transactions conducted in the same period in 2011.
Overall in the emirates, a total of 18,953 transactions have taken place by the end of June at an average of 133 per day. This number includes every kind of transaction such as mortgages, ijarah, mortgage portfolios, deferred sales and other transactions. The numbers of transactions reveal that the market is recovering and experiencing a strong growth.
Dubai properties market has shown high levels of flexibility in meeting investors’ demands, especially, the new investors are getting benefit from the price correction in the last two years. Prices have also increased in past few months in certain areas in Dubai due to high demand for buying properties.
In first half of 2012, 14,652 sales transactions worth AED 30.8 billion while 3,363 mortgage transactions worth AED 29.6 billion took place. Apartments were more in demand and the sale and mortgage transactions of apartments, outperformed that of villas. Total real estate transactions volume rose by 20 percent in 2011 as compared to year 2010. These transactions were valued around AED 143 billion.