The real estate market in Dubai continues to develop. According to new data from the Land Department (DLD), in the first quarter of 2018, the emirate recorded almost 14,000 transactions for a total of 58 billion dirhams, or $ 15.8 billion, which again confirms the market stability and its relevance on the part of international investors.
The real estate sector of Dubai remains an investor market: according to DLD, the majority of deals (9092) were made on a lump sum basis, and their total value was $ 5.2 billion. For comparison, the share of transactions involving mortgage lending amounted to 3,717 transactions worth more than $ 8.33 billion, and for other transactions – 950 transactions amounting to $ 2.28 billion.
The Dubai property market continues to show constant growth.
The volume of transactions, estimated at 58 billion dirhams, indicates a powerful impetus for the development of the real estate sector in the first quarter. It is expected that this will affect positively the volume of transactions in the second quarter 2018, and the indicators will continue to grow until the end of the year. Analysts and experts forecast a significant growth of the market. In preparation for Expo 2020, many strategically important infrastructure projects will be completed.
According to DLD, in the first quarter the largest number of transactions were concluded by UAE citizens. 1,246 investors made 1,587 transactions for a total of $ 1.1 billion.
On the second place in the number of transactions were buyers from India – 1387 people made 1,550 transactions worth $ 810 million.
Investors from Saudi Arabia took the third place, making deals worth $ 353 million. The fourth and fifth places went to the citizens of Pakistan and Britain. The remaining five places in the volume of transactions went to China, Egypt, Russia, Jordan and Canada, which indicates the growing popularity of Dubai as one of the most important directions for international investment in real estate.
The Business Bay and the Dubai Marina districts became the most sought-after areas for investment in real estate again.
Dubai remains an attractive destination for investors seeking stable income, as evidenced by the long list of investors in the emirate, which includes representatives of more than 217 countries.