BlogHop

An increase in real estate transaction in the Emirates has meant that mortgages worth over AED 11 billion have been taken out in the last few months.

The Municipality of Abu Dhabi City has reported a considerable increase in real estate trasaction through the first five (5) months of 2010, compared against the same period of time last year.

In March 2009, around AED 2 billion in mortgage transactions were made; the total value of mortgages this year topped AED 11 billion – over 60 sales transactions pulled in close to AED 250 million alone.

Transactions included the sale of four agriculatural land plots totalling over AED 10 million, two commercial land plots totalling AD 27 million, 42 residential land plots for nearly AED 3 million apiece and four villas totalling a whopping AED 72 million – an average of 18 AED million per villa.

The confidence pinned by clients and the stability of Abu Dhabi property market have motivated investors to active the trading processes. Moreover, the facile and simple procedure adopted by the municipality, as well as the provision of the e-service platform and the conducive atmosphere proved instrumental to providing the comfortable setting needed by investors to complete transaction processes; this reflects positively on customer satisfaction wih the service provided.

This one of the very reason why villa, bed space, and apartment rental is in the rise too! I am one of those many who are paying too high for the apartment just to have a decent and clean house if I use to go home after a tiring and pressure day. Pwehhh… Anyway, off for now as I need to check this Asbestos cancer. This might be reason why one of my colleagues at work prefers to loss his job and go home to cure his untold illness.