Lease rates dip again

11.05.2015
Prices in the rental market declined by 0.29% in March, with rates rising 5.4% year-on-year (y-o-y), Reidin.com said in its monthly report.

Residential rents in Dubai slipped marginally in March 2015 with rentals facing further pressure as more units are released, according to new reports.

“Prices in the rental market declined by 0.29% in March, with rates rising 5.4 per cent year-on-year (y-o-y),” Reidin.com said in its monthly report.

Apartment rents fell 0.20% month-on-month (m-o-m), but increased 6.3% y-o-y.

Villa rentals declined by 0.25% m-o-m, but were up one per cent y-o-y.

In February, the company’s housing market sentiment index survey had pointed to a rental decline in the first quarter 2015 though the rent index January registering a minor increase of 0.67 per cent.

In its first quarter report by MPM Properties, the real estate advisory subsidiary of Abu Dhabi Islamic Bank, said housing rents in Dubai were likely to face pressure with a flood of new supply coming to the market.

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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