Dubai Marina recorded the highest number of sales in August transactions selling 592 properties worth AED 1.7 billion, followed by Business Bay, which recorded 483 transactions worth AED 718 million.
Total mortgaged transactions for the month registered at 2,721 worth AED 11.02 billion. Dubai Marina also recorded the highest number of transactions in this category, selling 350 properties worth AED1.27 billion, closely followed by Palm Jumeirah with 330 mortgaged property transactions worth AED 1 billion.
Top 3 significant sales registered in Dubai during August: 1. A Super triplex penthouse measuring 17,712 sq ft in Palm Jumeirah sold for AED 75 million ($20M).
2. A plot sold for AED 58.4 ($16M) on Jumeirah Bay Island.
3. A 31,296 sq ft villa in Dubai Hills Estate sold for AED 98.5Million ($27M).
New government initiatives and economic support measures, such as the expansion of the 10-year golden visa program and residency permits for retirees and remote workers, have made a strong impact on consumer sentiment and framed Dubai as a prime destination for real estate investors worldwide. Given this boosted confidence, stakeholders in the Dubai economy are committed to building a host of opportunities to maintain overseas demand, the first of which is the upcoming Expo 2020.