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The land in Al Merqat was sold for AED 19.41 million. Last week the most transaction took place in the area called Al Hebiya Fifth. A total of 105 sales transactions worth Dh262.43 million took place in this area alone. The largest transactions followed were Obal Ali First (35 transactions worth Dh101.76 million) and Al Youfra 2 (12 transactions worth Dh15 million). The prices of villas have increased significantly in June. In June alone, 38,901 transactions took place in Dubai. In the last few years, there have been no major transactions. Kovid later became a big crisis but all that has changed now. The total figures indicate a 10 percent rise in residential property prices.
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The price of an apartment in Dubai has increased by nine percent and the price of a villa has increased by 19 percent. CBRE report on Dubai market says that it is higher than the average price. The real estate market in Dubai has seen a major downturn in recent times. But now this is changing. Sharjah Real Estate Registration Department has informed that 747 land transactions were done in 106 areas in Sharjah last month. A transaction worth 1.9 billion dirhams took place in this area.
Presidential election is today