An apartment in Burj Khalifa sold for Dh31.7 crore; The report is out

Dubai: Within a week, an apartment in Burj Khalifa was sold for 31.7 crore dirhams, which is more than 650 crore Indian rupees. A report related to this has been released by Dubai Land Development. According to the report, in the transaction that ended on July 15, property transactions of 550 crore dirhams were done in Dubai within a week. According to the report, an apartment in Al Wassal was sold for Dh24 crore and one in Palm Jumeirah for Dh19.1 crore.

1,614 transactions took place within a week. 186 plots were sold for AED 594.72 million. Also, 1,004 properties, including villas and apartments, were sold for Dh2.43 billion, according to the report. The land in Rasalkhor Industrial First was sold for AED 32.91 million. In the last week, there has been a lot of business related to land transactions.

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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.