Local news website, Arabianbusiness.com is reporting the Dubai Land Department’s director general, Sultan Butti bin Mejrin, as saying that the emirate witnessed a total of 18,953 transactions to the end of June at an average of 133 per day.
These transactions include sales, mortgages, ijarah, mortgage portfolios, deferred sales and other transactions.
Arabianbusiness.com quotes Bin Mejrin as having said: “The number of transactions is an important indicator of the growth and strong performance of the market.
“The real estate market in Dubai has shown high levels of flexibility in meeting investor requirements and trends during H1, especially the new investors looking to benefit from the price correction that emerged in the past two years.”
The director general also reportedly said prices had increased in the past few months due to high demand for buying lands, villas and flats in certain areas of Dubai.
In H1 2012, Dubai saw 14,652 sales transactions worth AED30.8bn while 3,363 mortgage transactions were completed worth AED29.6bn. Transactions reached 35,297 and were valued at around AED143bn last year in Dubai.
