Dubai still has highest gains when it comes to luxury property

24.12.2014
According to a survey by Knight & Frank, Dubai was comfortably placed at the top with a 12.4% increase, and ahead of second-placed Tokyo which had a 9.8% gain. While there has been a decline in demand for all things luxury, the city's upscale residential market still ranks high when compared globally, Gulf News reported.
According to the latest Knight Frank survey on cities with the highest rental gains in the 12 months to September last, Dubai was comfortably placed at the top with a 12.4% increase, and ahead of second-placed Tokyo which had a 9.8% gain.
Dubai’s ranking came about despite the fact that rental averages for premium properties remained flat between June to September. It is the second time in as many years that the city has retained the top spot. In Knight Frank’s analysis, ‘prime property’ corresponds to the top 5% of the housing market in each city.
“As against the 3 or 3.5 per cent on a premium residential investment in New York or London, and 4 per cent in Singapore, Dubai’s rental yields remain locked at 7-8 per cent,” said Hussain Sajwani, chairman of Damac Group.
“If one goes by sales values, even after the spike in the last two years, Dubai’s property sales values are one-tenth of London and New York, one-third of Singapore, and 30 per cent lower than in Beirut or Mumbai.

Subscribe to our news

Latest Availability
Latest property news
Send us an enquiry or request a call back
Your name *
Phone
E-mail *
Your message *
*- indicates required
Request a call back
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