Sunday 19 January 2014

$64bn in transactions marks the Dubai property boom in 2013 but will the recovery falter this year? « ArabianMoney

$64bn in transactions marks the Dubai property boom in 2013 but will the recovery falter this year? « ArabianMoney:

"The total amount of property sold or mortgaged in Dubai jumped by a staggering 53 per cent to $64 billion last year, according to new data from the Dubai Land Department. So the $64 billion question is clearly now whether this will continue or even accelerate this year.

The number of individual property transactions rose by 52 per cent to 63,652 with $17 billion worth of apartments and villas either sold or mortgaged. Land sales and mortgages of more than $47 billion represented a huge inflow of capital into the emirate in advance of its successful bid for the Expo 2020."

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