Dubai Records Another Strong Week of Property Activity

Between July 6 and July 10, the real estate market in Dubai maintained its upward trend, recording transactions worth AED15.6 billion ($4.2 billion), as per the statistics released by Dubai Land Department. The recent statistics confirm the growing popularity of Dubai real estate as the transactions also included sales, mortgages and transfers in the form of gifts.

Moreover, the report indicates a sustained confidence of the investors in Dubai properties since potential buyers continued to perform transactions across various price levels while luxury waterfront properties registered some of the transactions worth the highest amounts in that week.

DubaiRecordsAnotherStrongWeekOfPropertyActivity

Sales Continue to Lead Weekly Activity

Sales have significantly contributed to the total activity being the biggest part of it with the amount equal to AED8.73 billion ($2.4 billion) derived from 2,734 transactions.

Weekly Highlights:

  • Total Transactions: AED15.6 billion ($4.2 billion)
  • Sales Volume: AED8.73 billion ($2.4 billion)
  • Number of Sales: 2,734
  • Period of Time: July 6-10

Steady indicators of transactions during the reporting period signify the ongoing confidence in the real estate market both by local and international buyers. The statistics provide further evidence of prospects for long-term property investment in Dubai where regular activity remains one of the major indicators of market stability. The latest figures indicate the positive dynamics of the Dubai real estate market since the transactions of the type of sales represent the greatest part of the weekly activity.

Luxury Apartment Deals In The Limelight

The luxury residential sector in Dubai has once again made its presence felt through record-breaking sales, with luxury properties on water taking the lead.

In fact, the Dubai Land Department confirmed three of the highest landmark sales being:

  • Orla Infinity, from Omniyat, Palm Jumeirah – apartment for AED75.75m ($20.6m)
  • Six Senses Residence The Palm, Palm Jumeirah – apartment for AED40m ($10.9m)
  • Seapoint Tower 1, Emaar Beachfront in Dubai Harbour – apartment for AED29.1m ($8m)

Clearly, the latest transactions reiterate that the demand for luxury apartments for sale has not decreased, especially for branded constructions that offer exclusive amenities and unbeatable waterfront locations. Moreover, the performance of these projects reiterates the attractiveness of apartment for sale in Dubai in well-established luxury hotspots that attract affluent clientele.

Mortgage and Gift Transactions Demonstrate Buyer Confidence

The week’s results were bolstered not only by completed purchases but also by strong financing activity in the market.

With respect to the Dubai Land Department:

  • Total mortgage value: AED5.71bn ($1.5bn)
  • Total gift value: AED1.16bn ($316m)

Strong mortgage activity does indicate an ongoing involvement of banks in offering buyers more scope in relation to consideration of their purchases. Property investors still favour choice of buy ready properties in Dubai because they grant immediate ownership and potential rental revenues. High demand for leasing also stimulates property investors who plan to offer them as property for rent in Dubai option with the purpose of securing sustainable income.

Premium Sales Continue to Flourish in Waterfront Communities

This week’s most lucrative transactions took place in Dubai’s most sought-after waterfront communities, underscoring the existing demand for high-end waterfront properties. Top sales were recorded in Palm Jumeirah while Dubai Harbour posted yet another multi-million dirham apartment transaction.

Increasing interest in beachfront apartments for sale in Dubai further boosts demand for luxurious residential projects that offer a perfect combination of simple living and coastal lifestyle. Impressive results achieved by waterfront apartments for sale in Dubai are indicative of ongoing buyers’ trust in properties located in communities where limited availability and luxurious services lead to high-value transactions.

Market Activity Spreads Throughout the Emirate

Although luxury waterfront homes have made news headlines, all of the transaction figures were fueled by the activity taking place throughout the overall property market. The other communities such as Business Bay, Dubai Hills Estate, Jumeirah Village Circle (JVC), Dubai Creek Harbour, and Mohammed Bin Rashid City still keep on recording periodic buyers’ interest as different real estate segments.

The latest data indicate that as long as the real estate investment Dubai is in demand, buyers will be able to choose among a great variety of options, including both already established sites and fast-changing localities. In addition to the luxury market, properties for sale in Dubai remain available from various markets, giving customers more options while buying residential units in the emirate.

Market Stability Underlined by Figures

According to the recent report by the Dubai Land Department, the property market of the emirate remained on the high points with AED15.6bn in transactions for the period from July 6 to July 10, consisting of AED8.73bn from sales comprising 2,734 deals. The amount of AED5.71bn was gained through mortgages and AED1.16bn through gift transactions.

It is important to mention that buyers and investors planning to invest in properties with potential future gains should always cooperate with experienced agents and reputable real estate company in Dubai who will be able to explain market trends and available opportunities. The particularly successful week for the property market in terms of completed properties didn't mean that off-plan in Dubai was overlooked, as these kinds of purchases are still attractive for investors.

                                                                                                                                                                                             

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