The Dubai real estate sustained a strong growth momentum as the property transactions value hit nine-year high in September due to rising demand across off-plan and secondary market, latest data shows.
The real estate transactions climbed 13.34 per cent to 8,649 in September while value of deals surged 23.04 per cent to Dh24.42 billion, highest ever since 2013 when market hit the peak. It demonstrates renewed investor confidence on Dubai’s growing property market, which shows no signs of slowing down.
Let’s take a look at some of the property news that caught our attention last week. I’ve included the summary of each article below.
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Property News This Week
Billionaires’ Row’ on Dubai’s Palm Jumeirah: Where super mansions for the ultra-rich are rising
One of the fronds on the iconic Palm Jumeirah is fast carving out a niche reputation among the ultra-rich. Among the shortest on the Palm, Frond G is standing tall when it comes to record-breaking property sales of late. Popularly known as the Billionaires’ Row, the frond is home to the most expensive villa ever sold in Dubai.
Q3 records highest sales transactions for off-plan and secondary properties in 12 years
According to Property Finder, MENAT’s leading proptech company, the real estate market continues to witness steady growth. September recorded the highest transactions of 8,649 worth AED 24.42 billion, breaking through the 2013 market peak with a 13.34% increase in terms of volume and 23.04% in terms of value.
Dubai property rules: Listings limited to three brokers, ads and listings for sold properties must be removed
Starting October, the Dubai Land Department (DLD) allows sellers to list their properties with a maximum of three brokers. The move aims to bring more transparency by significantly cutting down on duplicate listings (multiple agents advertising a single property), enabling more professional brokers and agencies to rise to the top.
Dubai offers property in exchange of crypto but it can put you in legal trouble
According to an Economic Times report, wealthy Indians are paying in cryptocurrency to acquire property in Dubai. However, such transactions come with a huge risk as most property owners remain unaware of the regulatory and legal obstacles ahead.
Sanad Village win best ‘Public Service Development’ in Dubai at Arabian Property Awards
Sanad Village, the region’s largest rehabilitation center dedicated to understanding autism and other related disorders, was recognized among the region’s best developments at Arabian Property Awards 2022, held Thursday at Habtoor Grand Resort, Dubai.