Real Estate Top Stories

Dubai saw $871 mn real estate deals in last week of November

The total of 1,186 deals recorded covered 120 plots and 787 apartments and villas

The Dubai real estate market reached $871 million during the last week of November, where a transaction in Island 2 recorded as the biggest, at $16 million, according to media reports. A total of 1,186 deals were recorded during the time period that covered the sale of 120 plots and 787 apartments and villas.

The highest number of sales were recorded in the Jabal Ali First community, which saw 49 sales worth AED 138.8 million, followed by Nad Al Shiba Third, with 12 sales transactions worth AED 33.1 million, and Al Yufrah 3 with 11 sales transactions worth AED 10 million.

Top three sales were recorded under apartments, that were sold for AED 310 million in Marsa Dubai, the second one in Palm Jumeirah and the third in Burj Khalifa apartment which sold for AED 173 million.

In other news, prices for villas in Dubai climbed 37 percent annually in the third quarter of 2021 and are up by nine percent from the second quarter, according to media reports. The prices are still six percent lesser than the peak observed in the third quarter of 2015.

It was also noted that apartment sale prices also went up annually by 14 percent and six percent quarter on quarter.

In Abu Dhabi, villa sale prices went up by 14 percent and eight percent quarter-on-quarter. Apartment rents were also reduced by two percent annually, but villa rentals prices were up by three percent annually.

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