The Department of Lands and Properties in Dubai recorded purchase and mortgage deals worth 16.7 billion dirhams during the month of January.
According to Al Bayan newspaper, the largest share of the total value of the share of mortgage deals amounted to 12 billion dirhams distributed over land mortgage deals worth 11 billion dirhams, mortgages for villas and buildings with a value of 296 million dirhams, and mortgages for residential and commercial apartments with 697 million dirhams.
The Land and Property Department recorded real estate buying and selling deals with a total value of more than 4.7 billion dirhams, which were distributed to residential and commercial sale and purchase deals for an amount exceeding 3.6 billion dirhams.
While the value of sales and purchases of lands of various types reached more than 3.3 billion dirhams, while sales of residential villas amounted to 817 million dirhams.
Farhan Fattah Real Estate developers pointed out that the prices of most residential properties are at reasonable price levels.
It will witness steadiness and perhaps a gradual start to ascend with the support of mobility in the labor market to attract talents needed for new projects, in addition to the tourism growth witnessed in Dubai.
