No summer surprises as Dubai property transactions dip 16%

Real estate transactions in Dubai for the first half of 2018 reached AED111 billion, a drop of 16% when compared to the same period last year, according to the latest statistics by Dubai Land Department (DLD). According to a report issued by DLD’s Department of Real Estates Studies and Research, H1 2018 recorded a total of 27,642 transactions, 18,191 sales worth about AED40 billion, 7,668 mortgage transactions worth over AED57.6 billion, and 1,783 other transactions valued at AED13.4 billion. UAE nationals topped the list with 2,986 investments worth AED6.8 billion, while Indian nationals ranked second with investments that amounted to AED5.9 billion through 3,218 investments followed by Saudi Arabians whose investments were worth almost AED3.7 billion through 1,415 investments. The list of top 10 investors by nationality also included Dubai residents from Britain, Pakistan, China, Egypt, Jordan and France, respectively.