DLD discloses the Property Transaction Volume in Dubai this Year

The total amount of monetary transactions during the first nine months of this year that is from January to September is 22.6 billion dollars and this news was broken by one of the most senior officials in Dubai Land Department. According to Sultan Butti bin Merjin who is also the Director General of Dubai Land Department told that around 150 transactions per day were recorded in Dubai during this time period. It was also disclosed by him that the transactions have been mature and that the dealing was a lot more flexible between the buyers and sellers as compared to the past and that according to him was a sign that the investors and the market were showing the signs of maturity.

He went on to say that the first half was relatively better this year as transactions of AED 63 billion were recorded during the phase spanning from January to June however the pace has slowed down a bit in the third quarter. The third quarter showed transactions of around AED 20 billion this year which was some AED 11.5 billion below the average of the first two quarters. He was hopeful about the future as according to him the prices have already begun to rise and the main reason behind this price hike is that the transactions are increasing in the city. These include all sorts of transactions that are selling, renting and mortgaging which can lead us to the derivation that all segments of the society are involved.

Most of the transactions were sale transactions that were about 80% of the total transactions as they were 20,925 out of the total 27,452. AED 43 billion was the volume of the sale transactions and mortgaged properties valued at AED 36.3 billion. Wadi al Safa V was the most desired property during these nine months in terms of land transactions while in apartments transactions, Burj Khalifa topped with 3,305 units sold. In mortgage transactions, Al Barsha South First was the one that got the top slot with 203 transactions while Burj Khalifa had the most number of mortgaged apartment transactions that totaled to 422 apartments.