A report by Data Finder, the property information and real estate platform of the Property Finder, revealed that the Dubai Land Department has registered an important real estate deal, which is the sale of Burma Island within the World Islands project, at a value of 112.7 million dirhams.
The report, which "Emirates Today" obtained a copy of, indicated that the number of real estate deals recorded by the Land and Property Department regulations in Dubai is 13.8 thousand deals during the past 100 days, specifically since the formation of the Supreme Committee for Real Estate Planning in Dubai.
The data released by the Foundation showed that 5,051 sales were registered with the Dubai Land Department during the last month of November, which represents the highest level recorded on a monthly basis during 11 years, exceeding the total number of real estate sales during the month of October, which recorded 4.774 transactions, and the month of September saw 4,007 sales. As a result, recorded sales during the past three months reached 13,832 transactions.
For its part, Lynette Abbad, Director of Research and Data at Propertyfinder, said: “The number of sales operations this year and the growing consumer confidence in the market are due to all the mentioned steps, as well as the low prices and the huge momentum of offers, by providing a wide range of Options for buyers, as well as attractive prices and encouraging incentives. "
"This data highlights the positive impact that the announcement of the formation of the committee has had on market trends in the three months since September, as it appears that consumers are heading to buy real estate in Dubai in conjunction with the approaching Expo 2020."
She pointed out that this rise comes in the number of sales operations against the backdrop of many encouraging steps announced by the government this year to support investment in the real estate market, such as long-term residence visas, simplification of real estate sector operations, and exemption from fees. Some positive regulatory decisions also contributed to enhancing consumer confidence in the real estate market in Dubai, such as the Central Bank abolishing the 3% mortgage settlement fees for early mortgages, dispensing with the age limit requirement related to the last repayment date, and canceling the 20% bank lending ceiling for the real estate sector .