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Dubai's property market has recorded the highest performance in the last ten years, recording 7,092 property sales transactions valued at AED21 billion ($5.7 billion) in July, according to Mo'asher, the official sales price and rental performance index of the Dubai Land Department (DLD).
The number of deals is the highest for the month of July in the past decade.
Property deals in July also posted a 63.56% year-on-year (YoY) increase in terms of volume and 88.41% in terms of value.
The bulk of the transactions (59%) were for properties in the secondary or ready market, while the off-plan segment accounted for 41%.
"[The latest data marked] the highest performance in the last decade and demonstrates a significant increase in the overall performance of the sales transaction volume," the report said.
(Writing by Cleofe Maceda; editing by Seban Scaria )
