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The Dubai Land Department (DLD) reported on Thursday, that property buyers in Dubai snapped up over 1,000 residential units worth USD 435 million just in one week.
During the first week of 2012, from 1 to 7 January, DLD registered a total of 1,546 real estate transactions. Among them were 109 land transactions worth USD 119 million and 1,035 apartments and villas sales.
The most desirable location that many buyers chose, was Nadd Al Shiba Third with 27 deals worth USD 18 million. Homes at Al Hebiah Fourth were also very popular among future owners; the area saw 20 deals worth USD 12.3 million. It is followed by Nadd Al Shiba First that had 18 transactions worth USD 9.8 million.
Dubai's real estate market is starting to show signs of stabilization after several years of steady decline. According to ValuStrat’s Price Index (VPI), capital values of homes 'approached stabilization' at the end of 2020, with some locations even registering some minor increases due to high demand from price-conscious buyers.
