Dubai Real Estate Market had AED 9.5B (USD 2.6B) of Sold Properties Last Week

The Dubai real estate market saw 1,445 transactions with a total value of AED 9.5B (USD 2.6B) in the week ending October 6. According to the statistics from the Dubai Land Department (DLD), the total number of sold apartments and villas reached 1,197 worth AED 3.18B (USD 866M). In addition, 248 plots of land worth AED 1.75B (USD 476M) were sold.

The top three transactions of villas and apartments included:

  • A residence on Palm Jumeirah sold for AED 220M (USD 60M)
  • A unit in Zaabeel First worth AED 200M (USD 54M)
  • An apartment in Al Thanayah Fourth worth AED 95M (USD 26M)

In terms of plots of land, the most expensive was sold in Jumeirah Second for AED 100.44M (USD 27M), followed by plots in Al Hebiah Fourth worth AED 100M (USD 27M) and AED 70.33M (USD 19M).The total sum of mortgaged properties was AED 4.2B (USD 1.1B). Moreover, 110 gift deals took place last week with a total cost of AED 392M (USD 107M).

An off-plan residence in Dubai can become a perfect investment tool, as you will be able to resell a property at a higher price and generate a 15–20% profit after the completion of the project. Another option is to rent your real estate unit out, as residences in the emirate are in high demand both for short and long-term periods of time.

The most recently launched off-plan projects include Parkside Views by Emaar Properties in Dubai Hills Estate, DAMAC Casa by DAMAC Properties in Al Sufouh and 350 Riverside Crescent by Sobha Realty in Sobha Hartland II.

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