Logo
  • Order call
  • Call management

Property type
No. of bedrooms
Area
Show offers

A sign of maturity

21.06.2015
Residential property values have fallen with average prices now hovering around what they were during January last year.

It is often thought that a drop in sales indicates a slowdown in the housing market. However, in the case of Dubai, a fall in prices could actually be a positive sign.

Sure, developers are not seeing the same frenzy over new launches as earlier. In fact, Danube Properties' latest launch - Glitz 3 (a development of 352 apartments) - didn't enjoy the same rush of buyers as its previous two launches and the company's chairman Rizwan Sajan said the market appeared to be "slow." Residential property values have fallen with average prices now hovering around what they were during January last year, according to ValuStrat's Price Index.

However, this isn't necessarily a bad thing. In fact, it's an indicator that the market is moving towards maturity as investors are not simply looking to make a quick buck by investing in the latest launch. On the contrary, buyers are weighing their options carefully and developers will increasingly need to appeal to the buyers' sense of value. This is especially relevant at a time when the emirate is seeing the launch of 14 projects in the first five months of 2015.

Local consultancies such as Valustrat has revealed that time is right for renters in the emirate to become homeowners as equated monthly installments fall below their monthly rental outgo.

Meanwhile, Dubai's financial free zone hopes to attract new residents by reviving retail offerings to make the precinct a round-the-clock destination. Dubai has no shortage of shopping malls, but Brett Schafer, the chief executive of DIFC Properties, has rightly identified that most of the city's popular shopping destinations get busy at night and on weekends. The retail spine they hope to launch would provide amenities for residents living in the area, making it a downtown centre for those in the neighbourhood.

The apparent slowdown may indicate the start of a new housing phase, where people are buying property to live in, rather than as a short-term investment to flip on.

Latest Availability
Latest Blog Articles
Send us an enquiry or request a call back
Your name *
Phone
E-mail *
Your message *
*- indicates required
Request a call back
SOGA1  SOGA2
Call management
SOGA1  SOGA2
Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration
Additional services:

Property management

Sales Process
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
Rendering of management services

1 year

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration
Additional services:

Property management