Property transactions in Dubai rise

An increase in the number of real estate transactions completed in Dubai in 2011 has been recorded.

Figures published by the Real Estate Regulatory Authority (RERA) of Dubai revealed 20 per cent more sales were concluded last year than in 2010, Global Property Guide reported.

According to the organisation, these deals were worth a collective 48 billion UAE dirhams (£8.2 billion).

Chief executive officer of RERA Marwan bin Ghalaita commented: "We can expect 2012 to show the same increase or stay at the same level. We are marketing the real estate environment as transparent and secure."

Investors with property in Dubai may also be encouraged by statistics recently published by REIDIN.com.

The latest residential property price index for the emirate showed such assets increased in value by 1.21 per cent in January 2012 compared to December 2011.

Meanwhile, the cost of renting a home in Dubai also climbed by 0.87 per cent in the same period.

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