Dubai real estate sale has exceeded AED 267 billion mark in the year 2015. The sales figure has been revealed by the Dubai Land Department. The report shows a Y-o-Y increase of 8% with a total 63719 transactions. According to the report, sales exceeded 48,000 transactions valued at AED 130 billion whereas mortgages surpassed 12,000 transactions worth AED 117 billion. Both sales and mortgages with regard to land transactions crossed AED 194 billion out of the total figure with 16,751 transactions in 2015.
Looking at the total transaction value, the already built on commercial lands gained a huge portion with 40% of the total value. Transaction value of buildings and units reached a total of AED 72 billion with transactions exceeding 46,968 during 2015.
Speaking on the real estate sales figure of 2015, Dinesh Gurnani, Managing Director, Riveria Global, says, “Real estate sales have shown phenomenal growth and the trend is expected to continue as the development work of EXPO 2020 has already started. Starting from 2016, the growth will spike up. Investors have started investing in residential as well as commercial properties. If you are looking for investment options, it is the right time to invest in Dubai realty.”
Sale of land
The Al Yafra 2 area of Dubai was reported to have attracted more investment from the investors with land sales recorded a value of AED 3.285 billion through 1563 transactions. Al Hebeya 3 gets second spot with 1360 sale transactions valued at AED 3.95 billion and Al Yafra 3 stands third with 926 transactions valued at AED 1.71 billion.
Business Bay leads the other in term of unit sales with 3212 transaction valued at AED 4.953 billion. Al Hebiya 4 gets second spot with 3080 transactions valued at AED 2.573 billion and Dubai Marina came third with 3059 transactions valued at AED 6.240 billion.
Al Yalayis 2 leads in term of building sale with 1022 transactions valued at AED 1.354 million. Al Yalayis 1 came second with 425 transactions valued at AED 785 million and Shaikh Mohammad Bin Rashid Gardens acquired third spot with 371 transactions valued at AED 1.007 billion.
Mortgage Transaction for lands
The area Al Barsha South 1 tops in mortgage transaction for lands with 387 transactions valued at AED 415 million. Al Thunaya 5 got the second sport with 399 mortgage transactions valued at AED 1.377 billion and Al Thunaya 4 stands third with 249 transactions valued at AED 1.902 billion.
Mortgage Transaction for Units
Dubai Marina leads other in mortgage transactions for units with 927 transactions valued at AED 1.788 billion. Business Bay gets the second place with 814 transactions valued at AED 1.821 billion and Al Thunaya gets third spot with 739 mortgage transactions valued at AED 911 million.
Mortgage Transaction for buildings
Al Thunaya 4 ranks top in terms of mortgage transaction of buildings with 284 mortgage transactions valued at AED 526 million. The Wadi Al Safa 6 area came second with 175 mortgage transactions valued at AED 349 million and Al Barsha South 4 gets the third spot with 92 mortgage transactions valued at AED 158 million.
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