Dubai real estate transactions hit a record 11-year high on Sunday as real estate transactions witnessed the highest number of total real estate transactions in Dubai in a single day, with 515 property transactions recorded, according to a report by Propertyfinder Group. A total of AED 888.3 million, the highest figure since 2008.
The second highest volume was on September 6, 2015, when 405 real estate transactions were registered in Dubai. A minimum of 163 transactions were recorded on May 16th.
According to Propertyfinder statistics, the most expensive real estate deal was recorded on November 24, when a five-bedroom penthouse on the 45th floor of the One JBR project in Jumeirah Beach Residence was sold for 33 million dollars. AED
Lynette Abbad, research and data director at Property Finder, said: "The third quarter of this year saw strong deals in conjunction with the Expo 2020 approach, and growth is expected to continue at a significant pace next year."
She pointed out that the volume of sales transactions, since the beginning of the year until this month, increased by 4%, compared to the volume of transactions in 2018, stressing that these trends will continue in 2020, where it is expected that the real estate sector in Dubai to conclude significant rates These figures indicate the continued confidence of the consumer in the real estate market in Dubai, with many new offers and distinctive prices at reasonable prices, supported by the approaching date «Expo 2020».