Mortgages Dominate, With Sales Crossing 3,300 Deals
The Dubai real estate market continues to thrive, recording AED21.99 billion ($6 billion) in total transactions last week, including AED11.02 billion ($3.4 billion) in mortgages. Data from the Dubai Land Department highlights an active market driven by high-value deals and a significant volume of transactions.
Transaction Highlights
Between December 23 and 27, the Dubai real estate sector recorded:
- 3,345 sales transactions totaling AED9.25 billion ($2.5 billion).
- AED11.02 billion ($3.4 billion) worth of mortgage transactions.
- AED1.72 billion ($468 million) in gift transactions.
These figures reflect the growing investor confidence in Dubai’s property market, which continues to attract high-net-worth individuals and global buyers.
High-Value Property Sales
Some of the week’s most notable transactions included:
- An apartment at the Royal Atlantis Resort and Residences, Palm Jumeirah, sold for AED58 million ($15.8 million).
- An apartment at Sobha Seahaven, sold for AED27.34 million ($7.4 million).
- An apartment at Damac Bay, sold for AED26.8 million ($7.3 million).
These premium transactions underline Dubai’s appeal as a hub for luxury real estate.
Market Trends and Insights
The dominance of mortgage transactions highlights the shift towards financing-driven purchases, indicating robust activity in the mid-to-high-end segments of the market. Additionally, the strong showing in sales transactions showcases steady demand, driven by Dubai’s economic resilience and the influx of global investors.
The value of gift transactions, exceeding AED1.72 billion, points to the continuing use of real estate as a means for wealth transfer and family planning in the region.
Dubai’s real estate market remains a global hotspot, delivering strong transaction volumes and high-value sales. With nearly $6 billion in activity last week, including substantial mortgage financing and luxury property deals, the sector is poised for sustained growth as 2025 approaches.
