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«The volume of transactions in November reached almost USD 5,000,000,000, which is why November was the best month in almost eight years», the Dubai Land Department (DLD) said on Thursday.
The total sales transactions increased by 58.79% compared to the same month in 2020, and the cost increased by 88.37%.
More than half of the transactions, 54% of the transactions were made on the secondary or ready-made real estate market, and the remaining 46% relate to off-plan real estate.
The Land Department also noted the positive impact of Expo-2020 on the Dubai real estate market.
«This activity has directly affected the performance of the market, where there is an upward trend and it is likely to continue next year».
The number of transactions for the current year, including November, reached a total of 55,640 worth AED 135,400,000,000, which is already the highest annual sales figure since 2014.