Real estate transactions in Dubai in 2014
Real estate transactions in Dubai in 2014
Based on materials http://www.thefirstgroup.com
Dubai Land Department released the latest data on value and volume of property investments in Dubai in 2014. According to statistics, property investments in Dubai continue attracting strong consumer interest – the total value of real estate transactions in Dubai exceeded $59.3 billion in 2014.
The number of transactions made during the last year is estimated to be about 53,871. According to official data, AED157 billion worth of land mortgages and sales and AED60 billion worth of housing unit mortgages and sales were recorded during 2014. A total of 14,939 transactions were related to land operations.
Regarding land transactions, the most attractive area for investors in Dubai was Al Thenaya Al Thaletha. The second most popular area was Al Thenaya Al Khamesa, and the third one was Al Barsha South 4.
Business Bay recorded the largest number of apartment sales. The second most popular area was Dubai Marina.
51 per cent of all sales were cash transactions, while purchases using mortgages accounted for 44 per cent. The remaining 5 per cent included categories such as “gifted land”.
The director general of the Dubai Land Department has expressed confidence in the market maturing and maintaining sustainable growth.
Based on materials http://www.thefirstgroup.com
Dubai Land Department released the latest data on value and volume of property investments in Dubai in 2014. According to statistics, property investments in Dubai continue attracting strong consumer interest – the total value of real estate transactions in Dubai exceeded $59.3 billion in 2014.
The number of transactions made during the last year is estimated to be about 53,871. According to official data, AED157 billion worth of land mortgages and sales and AED60 billion worth of housing unit mortgages and sales were recorded during 2014. A total of 14,939 transactions were related to land operations.
Regarding land transactions, the most attractive area for investors in Dubai was Al Thenaya Al Thaletha. The second most popular area was Al Thenaya Al Khamesa, and the third one was Al Barsha South 4.
Business Bay recorded the largest number of apartment sales. The second most popular area was Dubai Marina.
51 per cent of all sales were cash transactions, while purchases using mortgages accounted for 44 per cent. The remaining 5 per cent included categories such as “gifted land”.
The director general of the Dubai Land Department has expressed confidence in the market maturing and maintaining sustainable growth.
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