Arab News, Monday, Apr 18, 2022 | Ramadan 17, 1443
Dubai hits $2.1bn worth of property deals in the week ending on April 15
Emirates:
Around 1,988 real estate transactions — with an accumulated worth of 7.8 billion
dirhams ($2.12 billion) — have been conducted in Dubai in the week ending on
April 15, 2022, WAM reported.
An estimated 246 plots were sold for 1.49 billion
dirhams, while 1,312 apartments and villas were sold for 2.96 billion dirhams,
according to figures released by the Dubai Land Department.
In addition, a total of 66 land plots have been
mortgaged for 1.07 billion dirhams. As for apartments and villas, 264 have been
mortgaged, for 1.8 billion dirhams.
A total of 80 properties, worth 497 million
dirhams, were also granted to first-degree relatives.
Looking at the ready-made apartments — excluding
hotel rooms and off-plan properties — the value of sales only (excluding
mortgages and gifts) totaled 668 million dirhams. The total space of such
properties amounted to 47,249 square meters.
The 2-bedroom apartments made the bulk of the
sales value, totaling 270 million dirhams, followed by 3-bedroom 195.7 million
dirhams, and 1-bedroom apartments 159.2 million dirhams. Studios contributed
43.3 million dirhams to the total sales value of this property group.
The 1-bedroom apartments led in terms of the count
of units sold — 178 compared to 145 for 2-bedrooms, 72 studios and 57 for
3-bedroom apartments.
According to data compiled by Arab News, in terms of pricing per square meter,
the 1-bedroom apartments sold during the week were the most expensive — 3,689
dirhams on average. This compares with 3,553 dirhams for 2-bedroom and 1,764
dirhams for 3-bedroom apartments. Studios were sold at 1,643 dirhams per square meter on average, while the space for an average studio stood at 45 square
meters.