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FINANCIAL NEWS
Dubai- Real estate transactions up 24.5% in H1
18 Jul 2012
(MENAFN) Dubai Land Department stated that during the first half of the year, real estate transactions jumped 24.5 percent from a year earlier to 12,521 transactions, reported Arabian Business.
The department said that the average size of acquired properties dropped by 44.8 percent during the period to 294 sqm from 533 sqm.
Moreover, average sales prices reached USD583,900, compared with USD768,118 in the same period a year ago, a drop of 23 percent.
It is worth noting that the number of mortgage transactions carried out during the January-June period declined by 23 percent from 2011 to 2,903 mortgage transactions.
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