The real estate market has shown steady growth over the years, as buyers are getting more confident with purchasing and investing in Dubai property.
As we move towards the end of April, we take a look at the DLD real estate transactions in Q1 2018. According to the report revealed by Dubai Land Department, the amount of real estate transactions within the first three months totalled up to AED 58 billion over 13,759 sales.
Sultan Bin Merjen, the Director General of DLD, stated "Achieving almost Dh58 billion in transactions shows strong momentum in the real estate sector for Q1, and we expect this to raise the Q2 transaction index and continue to rally before the end of the year."
According to the report, there were 9,092 sales that were worth up to AED 19 billion, whereas AED 30.6 billion was achieved from 3,717 mortgages.
Areas like Jebel Ali First, Al Hebiah 4, Al Warsan 1, Al Yelayiss 2, Al Merkadh, Al Thunaya 5, and Palm Jumeirah were also the most popular for real estate sales.
UAE nationals were among the highest number of clients with 1,267 investors making 1,587 transactions that totalled up to AED 4 billion. Indian investors were 2nd with 1,550 transactions that were worth AED 3 billion, and Saudi nationals were 3rd with investments amounting up to AED 1.3 billion.
Pakistani investors came in 4th, whereas UK nationals came in 5th in regards to the amount of real estate sales. They were closely followed by investors from China, Egypt, Russia, Jordan, and Canada.
Women also played a major part in property sales in Q1. Female investors were worth approximately AED 4.4 billion with 2,780 investments.
Furthermore, the reported stated that Dubai has now reached 2,165 real estate offices and issued 1,773 permits. Currently, Dubai features 6,177 real estate brokers.
Want to know more about the Dubai real estate market? Contact Driven Properties today to get expert advice from area specialists.