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Dubai’s weekly property sales rose to their highest level this month, as more investors snapped up flats, villas and plots across the emirate, according to the latest data from the Dubai Land Department (DLD).
The total value of homes, plots and other properties sold during the week ending March 18, 2021 amounted to 5.7 billion dirhams ($1.5 billion), the highest so far this month.
This week’s total value of transactions is up by 18.8 percent compared to the 4.8 billion dirhams recorded in the previous week and up by 26 percent from the 4.5 billion dirhams registered in the first week of March.
The busiest day for the property market this week was last Sunday, with total transactions hitting 2.3 billion dirhams in one day.
Among those sold this week were 104 plots for 548.87 million dirhams, and 900 apartments and villas worth 2.16 billion dirhams.
The biggest deal was for the purchase of a land in Wadi Al Safa 3 that sold for 41.16 million dirhams, followed by a piece of land that was acquired for 39.35 million dirhams in Al Thanayah Fourth, and another plot bought for 41.16 million dirhams in Wadi Al Safa 3.
The value of mortgaged properties for the week reached 3 billion dirhams, with the highest being a land in Burj Khalifa area that was mortgaged for 1 billion dirhams.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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© ZAWYA 2021
