According to the Land Department of Dubai, in the first half of 2018, over 27 thousand contracts for the purchase of real estate have been signed.
Despite the impressive figures, the total volume of transactions is approximately 16% less than in the same period of a previous year. In 2017, it amounted to $36 billion while in 2016 — to almost $31 billion.
Experts claim that the reduction in real estate transactions in the first half of 2018 occurred mainly in the field of construction projects that were in high demand in the 2017 year. The main reason was the launch of a smaller number of projects.
In addition, investors are now increasingly preferring ready-made solutions, since the difference in prices between such facilities and projects under construction is increasingly reducing, Khaleej Times reports.