SHARJAH: The total value of real estate investments implemented in the first six months of 2016 amounted to Dh12.1 billion, while the total number of real estate transactions carried out by the department during the same period last year reached 25,474, Abdul Aziz Ahmad Al Shamsi, General Director of the Sharjah Real Estate Registration Department, has revealed.
Al Shamsi indicated that May 2016 witnessed a record increase of 114 per cent in the total volume of real estate trading, which stood at Dh3.4 billion, compared with Dh1.6 billion during the same period of 2015.
As many as 25,474 real estate transactions were executed during the first half of 2016, compared to 25,850 transactions in the same period last year. These included 14,411 ownership certificates transactions, 8,165 title deed transactions, 1,943 mortgage transactions and 955 valuation transactions, which showed a remarkable increase of 35.8 per cent over the same period last year.
According to the first half data and statistics, there was a slight change in the number of transactions and trading volume, despite the continuing economic slowdown and political instability in the region in general, Al Shamsi said.
This indicates that property prices have not changed substantially in comparison with the same period last year, creating a convenient atmosphere of confidence among investors and owners.
