Dubai property market on fire as transactions hit $4bn in one week

A total of 2,867 real estate transactions worth more than $4.08bn (AED15bn) were recorded in Dubai this week, according to the latest report from the Dubai Land

Department (DLD).

This includes 313 plots sold for a total of $427m (AED1.57bn), which is the most transactions for this week. The sum of mortgaged properties for the week stood at $2.3bn (AED8.43bn).

This week, the sum of mortgaged properties stood at $2.3bn (AED8.43bn). This is a significant increase from last week when the sum was $1.7bn (AED6.29bn). The increase can be attributed to the fact that more people are taking out mortgages to buy property.

This is great news for the Dubai real estate market and shows that it is still going strong despite the current global pandemic. Meanwhile, 145 properties were granted between first-degree relatives worth $142.3m (AED523m).

In conclusion, the Dubai property market is on fire as transactions hit $4bn in one week. This is a remarkable turnaround from the market crash of 2008 and is a testament to the strength of the Dubai economy. With prices expected to continue to rise, now is the time to invest in Dubai real estate.

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