Some of the back grounded predictions about Dubai real estate future market growth made at the end of last year by authoritative experts most expectedly came true in the first quarter of 2016.
As imexre.com has already mentioned, 12,568 real estate transactions worth a total of AED 54.78 billion were recorded in Dubai from January to March 2016. This official information was disclosed by Dubai Land Department.
Among the freehold areas, the highest number of deals was recorded for Dubai Marina in Q1. The neighborhood of the world’s tallest building Burj Khalifa in the Downtown Dubai area took the second position, and the third Dubai’s location most wanted by property buyers was the area bordering Dubai Water Canal — the Business Bay.
These data is given for sales transactions conducted using buyers’ personal funds, while in mortgage transactions segment the second place in a rating after Dubai Marina was unexpectedly taken by Muaisem 1 district, while the third place was also left for Business Bay.
And the most informative piece of the DLD report was dedicated to real estate investments in Q1, for this part of real estate market is always the most indicative of its future development pace and prospective. During the first three months of the year 11,353 representatives of 127different nationalities spent AED 25 billion on real estate investments in Dubai. About AED 9 billion came from the neighboring Middle East states — 3476 investors from the Gulf countries and the UAE have decided to invest in Dubai’s housing in 2016. Around AED 3 billion of investments was made by investors of other nationalities from 16 countries outside the Gulf region. The total amount of foreign investments made in the emirate’s real estate was AED 12 billion, according to the calculations from DLD.