In the first week of the new year 2022, the total amount of property transactions exceeded AED 7.24 billion. Let’s move on to how much authenticity there is and what the details are.
Dubai, like the rest of the developed world, ended its holiday on Friday. This significant announcement was made last December. Dubai government has implemented with this new year.
Regarding the country’s adoption of a new system, the value of property transactions in Dubai exceeded AED 2.53 billion on the first working Friday, with 227 real estate transactions. This is the biggest achievement.
With 1,766 transactions, the overall value of property transactions recorded during the first week of the new year surpassed AED 7.24 billion.
According to data from the Dubai Land Department (DLD), the first working Friday had seen 173 sales transactions comprising $2.38 billion. This included 12 plots valued at AED 451.16 million, 161 apartments, and villas valued at AED 1.93 billion.
Below are the top 3 areas with the most property sales transactions on the first Friday of 2022:
- Marsa Dubai, where land has been sold worth Dh 369 million
- Al Thanya Fifth, where a plot of land for Dh 28 million was sold
- A plot of land in Palm Jumeirah was sold for Dh 17 million
On Friday, Jebel Ali First had the most transactions, with three sales transactions totaling Dh 6 million. Followed by Palm Jumeirah with Dh 17 million and Warsan First with Dh 4 million.
If you look at the transfer of villas and apartments according to the top three, then it is clear that these are the top sales transactions in Jumeirah and Marsa Dubai. Jumeirah 500 million sales transactions, followed by AED 495 million sales in Marsa Dubai and AED 402 million sales in Marsa Dubai.
On Friday, Jebel Ali First recorded the most villa and apartment purchases transactions, totaling AED 18 million. Business Bay came in second with 21 sales worth AED 25 million, and Al Barsha South Fourth came in third with 13 sales transactions worth Dh 16 million.
On Friday, the overall value of mortgage transactions completed was AED 125.03 million. These included nine mortgage transactions AED 47.88 for land and 40 lending transactions of AED 77.15 for villas and apartments. The largest mortgage transaction was recorded in Al Thanyah Fourth, with a value of Dh 37 million. Followed by AED 11 million mortgage transactions in Nad Al Sheba Third.
First-degree relatives were given 5 properties worth a total of AED 19.16 million. The highest value, AED 12 million, was registered in Al Merkadh, followed by Dh3 million in property in Jebel Ali First.
After this remarkable success, it would not be wrong to say that turning Friday into a working day has been a significant benefit. Dubai Real Estate will achieve more in the future. This marvelous achievement is the clear start of the wise decisions of the Dubai government.