New phase of momentum for Dubai real estate market confirmed by DLD transactions data for Q1 2017.
First quarter results for the Dubai real estate market activity have been summarized and published, allowing to give an estimate to the real estate industry state. The beginning of the year was quite dynamic for brokers and home buyers. As a result, the Dubai Land Department has registered 20,000 real estate transactions in the first three months of the year.
According to the official data revealed by DLD, total value of real estate transactions conducted in the emirate from January to March 2017 amounted to AED77 billion (USD20.9 billion), which is AED22.3 billion higher than the values for the same period last year, when DLD registered a total of AED54.7 billion worth of deals in the first three months of the year.
DLD Director-General Sultan Butti Bin Majren noted that the total value of real estate transactions for the Q1 this year increased by 45% compared to the previous year first quarter’s data, which allows us to speak about a new phase of intensive growth that awaits Dubai real estate market in the near future.
The data on the increase in number of transactions was revealed simultaneously with the presentation of a new guide book from the Dubai Land Department, aimed at spreading a safe real estate culture in Dubai. The "Know Your Rights as a Real Estate Investor in Dubai" guide, as seen from the title, is primarily targeted at home buyers and property investors, and contains all the main legal and other information necessary for safe investing in real estate in the emirate and complying with all obligatory legal requirements.
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