(MENAFN) In the first nine months of the current year, Dubai property transactions totaled of Dh204 billion through 52,170 transactions, according to the Dubai Land Department (DLD) data released on Monday.
This compares to Dh259 billion worth of property deals achieved for the full year 2016 and Dh132 billion in the first half of 2017.
Partner and head of Property Monitor/Cavendish Maxwell, Lynnette Abad said, "Transactions have increased this year compared to 2016 mostly due to the success of off-plan transactions. By August of this year, the number of off-plan transactions had already exceeded the total amount of off-plan sales in 2016".
"This trend will continue into next year as many new projects have been announced and buyers, both investors and end-users, have been very receptive to off-plan sales due to attractive price points and payment plans", he added.
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