Property transactions 'up 5.3% in Dubai'

02/04/2012 - Dubai Property News Posted by Neil King
Property transactions 'up 5.3% in Dubai'
Investors buying in Dubai appear to have had more success in the first quarter of 2012 than previously, as it has been revealed that property transactions surged by 5.3 per cent between January and March.This is according to official figures from the Dubai Land Department, which revealed that during this time there were 654 sales - including apartments, villas and townhouses - with the value of these dealings climbing 32 per cent to $1.43 billion (£890 million), Arabian Business reports.There is still room for further improvement in the emirate's property market, as transaction rates still have some way to go before they reach the heights last seen during the boom of 2008.Four years ago, the sector was thriving, when 1,500 transactions worth $5.09 billion took place - and 2012's current figures are 71 per cent below this figure.Last week, Emaar revealed that tends in property investment in Dubai proved 2011 was the best for villa sales, with revenue from these houses jumping 85 per cent.