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According to the Dubai Land Department, 84,196 real estate transactions worth 300 billion dirhams ($82 billion) were registered in Dubai last year, which is the highest annual figure in the history of the emirate.
The capital value of villas and apartments in Dubai increased in the fourth quarter of last year, according to the real estate consulting company ValuStrat.
«Almost 60% of all transactions in Dubai last year were made with secondary/finished real estate, while about 40% were for off-plan properties», the DLD says.
In the off-plan real estate market, 24,761 real estate projects worth almost 46 billion dirhams were sold, and 36,480 real estate projects worth about 106 billion dirhams accounted for the secondary market. It is believed that the highest value of purchase and sale transactions in the secondary market since 2008.
Meanwhile, in Dubai in the fourth quarter of last year, the volume of transactions increased by 64% year-on-year, and the cost increased by 115%.
Separately, 1,724 transactions worth 4.9 billion dirhams were registered in the emirate during the past week. A total of 139 plots were sold for 784 million dirhams, while 1,172 apartments and villas were sold for 2.7 billion dirhams.
