Dubai sees 16.8% increase in real estate transaction values in H1 2017
Originally published in Gulf Business by Robert Anderson (link below)
The increase follows a 12.8 per cent decline in transaction values seen in the first half of last year
Dubai saw a 16.8 per cent increase in the total value of real estate transactions conducted in the emirate in the first half of 2017 compared to the same period last year, according to Dubai Land Department (DLD)
The figures for the first six months of 2017 will be seen as a sign of market recovery for property owners and developers, which have endured more than a year of stagnant or declining rental and sales rates.
The value of transactions for the first half totalled Dhs132bn ($35.9bn) compared to Dhs113bn ($30.7bn) in the first half of 2016. This was also 2.3 per cent more than the Dhs129bn ($35.1bn) recorded in H1 of 2015.
There were also 25.91 per cent more sales, mortgage and other transactions in the period to June 30 from 28,251 last year to 35,571 this year.