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Dubai real estate buyer interest at its highest level since 2014

17.05.2016
Dubai real estate buyer interest at its highest level since 2014
Dubai real estate market analysts recorded the biggest surge in real estate buyer’s interest since the mid-2014. Find out, why the best time to invest in Dubai is now.

Reputable UAE real estate portal Propertyfinder conducted a study of a search queries for property sales and rentals offers and found that since January this year, the level of buyer’s interest has increased by 28%.

Dubai real estate market is largely formed by the end property buyer’s demand having a much more volatile nature than other, more mature global markets. Therefore, price movements both up and down can be quite extreme here. That's why savvy investors typically take a wait-and-see strategy until the market gets into the stable phase again. Last year was no exception, and when prices went down, buyers and sellers have decided to suspend transactions waiting for better times. But how can one know when the market’s hit the bottom, and when it is best to buy property?

The best indication that the market enters a period of stabilization and another price increase is analysing changes in the level of sales enquiries on most heavily visited property sites. Statistics from such sites and registration data given by official Dubai Land Department make it clearer.

Normally, potential tenant’s interest in renting considerably exceeds the interest in property sale ads. The normal ratio for these in a strong market is about 60 rental requests per 40 sale offers searches. Since 2014, the latter index fell significantly to 28%, indicating the lowering of buyer’s interest, but in 2016 it started increasing each month to almost normal levels. In February, the buyer’s interest stood at 28-29%, and by May this year it increased to 32%.

Buyers are primarily interested in highly income generating real estate options in Dubai central areas such as Dubai Marina, Downtown Dubai, Palm Jumeirah, Jumeirah Lake Towers, etc. Also, investors are obviously targeting affordable apartments in Dubai Sports City, International City, etc.

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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