Dubai Real Estate shows booming numbers in 2013

Dubai Land Department said on Saturday that the overall amount of real-estate transactions in Dubai reached AED236 billion ($64.2 billion) in 2013, up from AED154 billion in the earlier year.

A report launched by their state property field growth department recorded AED166 billion price of terrain mortgages and sales and AED62 billion of property product mortgages and sales for the year, using the total quantity of purchases moving 53 percent on 2012 going to 63,652.

"These may be related to the newest rules and procedures given in the past year, which have contributed to the strengthening of confidence and trust between the various types of investors.

Sultan Merjen, director-general of the Land Division, stated: "The exchange numbers for 2013 disclose a high degree of anticipation presently existing in the Dubai real estate industry.

In contrast to 2012 the figures represent a rise in turnover of 53 percent, the Land Section added in a statement.

"We're anticipating another rise in the progress in 2013, enhanced by Dubai's successful bid to host World Expo 2020."

Income and mortgages associated with property transactions accounted for the lion's share (70-percent) of the sum total of Dubai real estate for 2013.

The Al Thenaya Al Khamesa section of Dubai was exposed to function as most appealing for investors, with transactions from mortgages and sales attaining AED9 billion.

Dubai Marina was ranked first for condo sales and mortgages, reaching numbers of almost AED15.6 billion, followed by Al Thenaya Khamesa, Burj Khalifa, Warsa.

Earlier this month, Mejren said this year Dubai property prices may climb by around 40 percent.

He explained within an interview with Bloomberg the team prepared to introduce new rules to manage supposition on houses sold before they were integrated as a reaction to property prices increasing over 30 percent in 2013.