Average studio nearly AED1m

29.07.2014
Asking prices for a studio in Dubai are now at AED959,000 while the average price for a one-bedroom apartment is AED1.7 million; Dubai Marina still appears to be the top-searched area for prospective buyers. Studio apartments in Dubai are now priced at an average of AED959,000, according to new research by the UAE's property search website propertyfinder.ae.
ConstructionWeekOnline.com said that an average one-bedroom flat now costs about AED1.7 million while a two-bedroom apartment carries an average price tag of AED3 million.
The research carried out by the website also found that Dubai Marina is the most searched community among prospective buyers; the average apartment price there is AED2.8 million and AED8.5 million for a villa.
"Dubai Marina has been at the top of our rankings for over two years now - no small feat in a city like Dubai where new developments are being launched every other week. The community is where everything is at - business centres, beaches, entertainment, gorgeous views, stylish pads and hip nightlife," said Renan Bourdeau, deputy CEO of propertyfinder.ae.
Bourdeau added that Dubailand is the next area growing in popularity among prospective buyers, claiming fourth spot in the second quarter of 2014 despite not figuring in the top 10 two years ago. Asking prices for apartments in Dubailand stand at AED1mn while villas cost AED5.3mn.

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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:

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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