{"id":20198,"date":"2016-07-19T20:14:06","date_gmt":"2016-07-19T13:14:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=20198"},"modified":"2016-07-19T18:20:24","modified_gmt":"2016-07-19T11:20:24","slug":"more-dubai-property-deals-over-first-six-months-but-total-value-lower","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-dubai-property-deals-over-first-six-months-but-total-value-lower\/","title":{"rendered":"More Dubai property deals over first six months – but total value lower"},"content":{"rendered":"


\nThe value of property deals transacted in Dubai in the first six months of the year fell despite a rise in the number of transactions.According to figures from the Dubai Land Department published on Tuesday, the total value of real estate transactions in Dubai fell 12.4 per cent to Dh113 billion in the first half of 2016 from Dh129bn during the same period a year earlier.However, the DLD reported that the number of transactions taking place over the period increased by more than a fifth, rising to 28,251 sales, mortgages and other transactions in the first half of 2016 from about 23,000 a year earlier.The total value of new mortgages taken out during the period fell by a quarter to Dh48.3bn from Dh65bn a year earlier. And the total value of sales transacted without a mortgage fell 8 per cent in the first half to Dh48.7bn from Dh53bn last year.The DLD said that Business Bay remained the most popular area of Dubai for unit sales, with 1,643 transactions valued at Dh2.3bn – down slightly from Dh2.5bn last year.Dubai Marina was the second most popular area for unit sales – 1,392 transactions took place during the period with a total value of Dh2.89bn. Warsan 1 was third with 999 transactions with a total value of Dh454 million.”Dubai has achieved a high percentage of growth, with the value and the number of real estate transactions, which provides reassurance about the positive development that the Dubai property market is witnessing, and proves the attractiveness of the Emirate’s real estate,” said Sultan Butti bin Merjen, the DLD director general.The news came a day after property broker JLL predicted that the UK’s vote to leave the European Union will delay the Dubai housing market’s recovery by six months.After two years of falling house prices, JLL had previously forecast, the residential market in the emirate would start to recover either towards the middle of this year or later.However, with British nationals making up the third-largest group of foreign investors in Dubai property and the value of the pound down more than 10 per cent since the Brexit referendum last month, the broker has revised its forecast to next year.According to JLL, house prices remained flat in the three months to the end of June, meaning that average Dubai house prices now stand about 15 per cent lower than the last market peak, in mid-2014.lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…More Dubai property deals over first six months – but total value lower<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The value of property deals transacted in Dubai in the first six months of the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-20198","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5fM","jetpack-related-posts":[{"id":42217,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-mortgage-market-doubles-in-size-over-seven-year-period\/","url_meta":{"origin":20198,"position":0},"title":"Dubai mortgage market doubles in size over seven-year period","date":"January 30, 2017","format":false,"excerpt":"\r The number of homes changing hands in Dubai may be slipping, but the mortgage market is in rude health, having doubled in size over the past seven years, according to a report released yesterday.The Reidin\/Global Capital Partners report states that mortgages as a percentage of sales activity have now\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40661,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-real-estate-had-a-sluggish-year-of-fewer-trades-and-turnover\/","url_meta":{"origin":20198,"position":1},"title":"Dubai real estate had a sluggish year of fewer trades and turnover","date":"January 15, 2017","format":false,"excerpt":"\r Dubai's real estate sector witnessed a slowdown last year as fewer transactions took place during a year of sluggish property prices. Figures from Dubai Land Department on Saturday showed that overall transaction value in the city fell by nearly 3 per cent, to Dh259 billion from Dh267bn in 2015,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":172636,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-catching-up-with-dubai-in-super-prime-property-sales-amid-iran-war\/","url_meta":{"origin":20198,"position":2},"title":"Hong Kong catching up with Dubai in \u2018super-prime\u2019 property sales amid Iran war","date":"September 25, 2026","format":false,"excerpt":"\r Hong Kong has significantly narrowed Dubai\u2019s lead as the world\u2019s top market for \u201csuper-prime\u201d residential property in recent months, as rising conflict weighs on activity in the Middle East market, according to Knight Frank. Dubai retained first place for deals involving homes sold for US$10 million or more in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1078,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/has-the-fall-in-dubai-property-prices-come-to-an-end\/","url_meta":{"origin":20198,"position":3},"title":"Has the fall in Dubai property prices come to an end?","date":"January 9, 2016","format":false,"excerpt":"\r \r Dubai\u2019s residential property market is showing signs of plateauing after about 18 months of price declines.New figures from the consultancy ValuStrat show that there was \u201cno significant change\u201d in values of apartments and villas in the 26 areas that it monitors. It said that its ValuStrat Price Index\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":316,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-sales-have-fallen-by-up-to-46-in-parts-of-dubai-in-last-two-years\/","url_meta":{"origin":20198,"position":4},"title":"Property sales have fallen by up to 46% in parts of Dubai in last two years","date":"December 30, 2015","format":false,"excerpt":"\r Some parts of Dubai have seen residential property sales fall by more than 40% in the last two year but looking ahead the market is set to pick up in 2016.Reports from the Unitas Consultancy and Reidin show that house sales in Dubai Marina, for example, fell to less\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20672,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/has-the-dubai-property-market-turned-house-prices-in-the-emirate-edge-up\/","url_meta":{"origin":20198,"position":5},"title":"Has the Dubai property market turned? House prices in the emirate edge up","date":"July 24, 2016","format":false,"excerpt":"\r After two years of house price declines in Dubai, the UAE's largest property data company recorded a slight uptick in prices last month.According to new figures from property data company Reidin, house prices in Dubai increased by 1 per cent during the three months to the end of June,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/20198"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=20198"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/20198\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=20198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=20198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=20198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}