Dubai real estate transactions reach Dh236b in 2013

Land mortgages and sales accounted for Dhl66 billion of the total amount, while housing unit mortgages and sales contributed Dh62 billion.

The total number of transactions jumped 53 per cent from 2012 figures to reach 63,652.

Sales accounted for half of the total value of transactions, with the share of mortgages at 46 per cent, leaving all remaining operations at only four percent of total activity. Compared with 2012 data, the figures represent a 53 per cent increase in turnover, with the growth in the number of transactions topping 52.4 per cent.

Sultan Butti Bin Merjen, Director General of the DID, said: '"The transaction figures for 2013 reveal a high level of optimism currently prevailing in the real estate market. These can be attributed to the new regulations and procedures issued during the past year.

''We are anticipating a further rise in the growth index this year, boosted by Dubai's winning bid to host World Expo 2020."

Land sales and mortgages accounted for 70 per cent of the total real estate figure. Housing transactions accounted for almost 26 per cent, while Dh8.7 billion or around 4 per cent was generated from other activities.


Source: Property WeeklyPW


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