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DLD: Dubai real estate transactions total value increased by 26% in H1 2017

01.08.2017

Dubai Land Department presented its official statistics for Dubai property market in the first half of 2017: 35,571 properties sold in the first six months of a year worth a total of AED132 billion.

Real Estate Research and Studies Department at DLD recently released its large H1 2017 Transactions Report up until 30th June. According to the report, 35,571 real estate transactions were conducted in Dubai, including sales, mortgages and other types of deals.

Compared to last year's figures for the first half of 2016, the number of real estate transactions increased by 17.6%, and their total value increased by 25.91%.

During this period, land plots were the hottest demanded property category in Dubai: about 8,000 of land plots were sold worth a total of AED91 billion. Building sales accomplished 3,887 transactions with a total value of AED10 billion and unit sales crossed the AED31 billion mark from 24 transactions, including sales of the most expensive villas ever marketed in Dubai.

The report also revealed the top 10 Dubai areas with a maximum number of real estate transactions conducted in H1. As expected, Dubai Marina leads in both categories — in terms of transactions number (2,599 units sold), and the total value of properties sold during this period. It is followed by Business Bay with 2146 transactions, Al Barsha South 4 with more than 2000 real estate deals, Jebel Ali 1, where 1931 property sales transactions were registered, and Al Thaniya 5 residential community with 1,501 transactions.

As for the biggest total values of housing sold in Dubai in the first six months of 2017, the most expensive transactions were registered on the man-made island of Palm Jumeirah, where property developers and secondary unit owners have received AED9.5 billion in total for their properties, while Business Bay registered a total of AED6.5 billion worth real estate transaction in H1. Burj Khalifa and Dubai Marina come next, along with Al Wasl area, closing the top five Dubai areas rating, with AED5.8 billion worth transactions registered for the first two of them and AED 5.6 billion for the latter, respectively.

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