Official data indicates that the Burj Khalifa area in Dubai has emerged as the most traded area in value terms, while the Jumeirah Lakes Towers area registered the highest number of transactions in the first six months of this year.
The total value of real estate transactions during the period jumped around 22% to $7.35bn from $5.9bn a year earlier, according to the Dubai Land Department.
Last year, the department registered 35,297 transactions worth $38.9bn, up 20%compared with 2010. Mortgages constituted 60% of the total transactions, which according to the DLD indicates the “recovery of the property financing and the return of healthy activities.”
