The value of the Dubai mortgage market has increased by 75% so far this year, compared to the same period last year, according to figures from the Dubai Land Department.

Information on the official Dubai Land Department website shows that between 1 January and 21 March AED9.99bn ($2.72bn) worth of new mortgages were registered on the system.

This is 75% more than the corresponding period last year when AED5.68bn ($1.54bn) worth of new mortgages was processed.