The Dubai Land Department has reported a 20 per cent increase in the value of transactions it recorded in 2011 over 2010, with 26,465 apartments and 1,179 villas sold in the year.
Mortgage activity was up 12 per cent but still a very low for a city of two million inhabitants. There were just 3,315 mortgages granted worth a total of $18.8 billion.
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