Sales of Dubai’s $10mln homes hit $3.8bln in 2022 

Thanks to its successful handling of the COVID-19, the city’s attraction has ballooned substantially since the outbreak of the pandemic.

This trend is driven by affordability, as prices reached 10-year lows, record-low interest rates, LTV up to 85 percent.

A total of 182 plots were sold for $329mln, 1,140 apartments and villas were sold for $435mln

Town Square has become one of the most popular communities to buy apartments across Dubai.

The figures indicate that Dubai’s real estate sector is gradually returning to normal, driven by the stimulus packages and initiatives launched by the government and its departments in the past few months.

There were more than 570 transactions per week on average in June and the secondary property market in Dubai has recovered to pre-coronavirus levels.

The new system allows direct interaction between the seller and buyer and the finalisation of procedures through audio-visual communication.

Properties worth a total of $3.9 billion purchased through June, July and August - 33% increase on 2018