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Dubai's real estate market has been breaking records quarter to quarter, with a $3.6 billion value in transactions registered just last week. This strong performance has been disclosed through the data released by the Land Department, which truly shows the strength and further resilience of the emirate's property sector.
In this market, a staggering $2.7 billion worth of sales were made, instilling a sense of confidence in investors. Some of these high-value deals were a testament to the allure of luxurious living in Dubai—such as the $37.8 million sale of a residence at the prestigious Dorchester Collection Hotel. Other notable sales included a $4.5 million apartment at Casa Canal and a $5.9 million sale at Casa Il Primo.
However, the market's vibrancy was not limited to sales alone; it also saw a significant surge in mortgages and gift transactions, underscoring the diverse nature of Dubai's real estate scene.
Much of Dubai's real estate business boom is attributed to the various factors that act as pulls for the city as a commercial and tourism center, its tax-free environment, and investment-friendly policies. The increasing late transactions indicate that the confidence in its future, particularly that of the real estate sector, will continue to grow and thrive.
In conclusion, Dubai's property market is way back to its glorious best, and these fresh numbers are a testament to that. So, whether you are an investor, owner, or observer, it is hard to deny that Dubai's real estate is quite the force.
