AED218b worth of deals recorded in 2014

14.01.2015
The value of Dubai property deals in 2014 fell 7.6% compared with the previous year, reflecting a slowdown in the emirate’s housing market, official figures show. The value of Dubai property deals in 2014 fell 7.6% compared with the previous year, reflecting a slowdown in the emirate’s housing market, official figures show. Overall property or land sold or mortgaged in 2014 stood at AED218 billion, down from AED236bn the previous year, according to Dubai Land Department (DLD) data released yesterday. DLD, the official government body responsible for registering property sales in the emirate, said that the number of property transactions taking place in Dubai fell by nearly 10,000 or 15% from 63,652 in 2013 to 53,871 in 2014. “The real estate market has shown a clear ability to gain momentum from year to year, in addition to maintaining sustainable growth, as well as the trend towards maturity,” said Sultan Butti bin Merjen, the director general of DLD. DLD said that Business Bay was the most popular area for apartment sales during the year, with 4,315 units changing hands, worth a total of AED7.2bn. Dubai Marina was the second most popular area for sales, registering 4,121 transactions during the year, worth a total of AED9.17bn.

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Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

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

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

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

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

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