Real estate transactions in the Dubai Land Department recorded over AED 23.1 bn during the current week, Invest-Gate reports.
Dubai's red-hot real estate market is attracting more Chinese investors again after pandemic curbs slowed purchases, pointing to sustained demand as prices hit records, Invest-Gate reports.
The value of daily property sales in Dubai was up 43.5% in the first seven months of 2023 compared to the same period last year, according to data from the Dubai Land Department, Invest-Gate reports.
Dubai real estate saw three land plot sales with a total value of AED 820 mn registered this month, according to Dubai Land Department data.
Prices in Dubai's freehold residential market rose 4.8% in the second quarter, with annual gains hitting 24%, Knight Frank data shows.
Dubai’s residential real estate upswing is extending to the outskirts, with luxury project prices in key areas hitting records, according to ValuStrat, an appraisal and research firm.
Dubai's real estate market has entered an era of strong, sustainable growth that is the best in history, Invest-Gate reports.
The number of hotel apartments in Dubai totalled 25,500 units within 193 properties by the end of May, according to statistics from Dubai's Department of Economy and Tourism.
Dubai's real estate prices have witnessed remarkable increases recently, although they remain significantly lower than their counterparts in major global cities, Invest-Gate reports.
W Capital Real Estate, headquartered in Dubai, said that real estate sales in the emirate are on track to hit record levels during the 2023 summer season amid exceptional demand, Invest-Gate reports.
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