Dubai's real estate sales transactions grew by 3.7 per cent month-on-month in July and averaged around 600 properties sold every seven days. 

 

The secondary market in July had higher volumes of sales transactions than off-plan transactions, a trend recorded since the end of Q2 2020, stated Dubai Land Department (DLD) in the fifth edition of its official sales-price index, Mo’asher, launched in cooperation with Property Finder.

 

The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being Q1 2012.

 

In July, DLD had recorded a total of 2,404 sales transactions worth AED4.69 billion, with 29.6% in the off-plan segment and 70.4% in the secondary segment. This brings the year-to-year total to 18,168 sales transactions worth AED36.99 billion.

 

Latifa Ibrahim Ahmed, the Director of the Real Estate Studies & Research Department at DLD, said: "Through the regular issuance of Mo’asher, we aim to provide transparent and accurate data to all parties in the real estate market, including developers and investors as well as local and international media and analysis agencies, especially as the index is receiving increased attention."

 

"We believe that providing these detailed data on a monthly basis will place Dubai’s real estate market on the list of the most transparent markets, helping investors make information-based decisions and develop long-term plans for their investments, especially in light of the interest of financing companies and global investment funds in the Dubai market, and for them to benefit from the promising opportunities in it," he added.-TradeArabia News Service