Logo
  • Order call
  • Call management

Property type
No. of bedrooms
Area
Show offers

Luxury realty sees dip in popularity

02.08.2014
Luxury realty sees dip in popularity
Property prices may be skyrocketing but buyers appear to be taking a stand against the rapid growth in the luxury sector with value gains going down. High-end homes in Dubai saw a more toned-down growth pattern with value gains of 6.3%, according to a new report from consultancy Knight Frank. Compared to the first three months, where gains were up 11.7%, there is undoubtedly hesitance on the part of buyers to spend asking rates on luxury property.
According to market sources, new supply — and in substantial numbers too — such as Nakheel’s recent announcement of a new community of 1,000 villas will reduce the scope for sharp mark-ups in prime properties. Another launch, the Royal Estates project involving an alliance between three private developers, will create 2,000 homes at Dubai Investments and includes townhouses priced upwards of AED1.6 million.
“While there will always be investors interested only in trophy purchases in Dubai, the rest of the market is being driven by long-term buyers and end-users,” said the head of a brokerage firm.“Where they had few choices earlier — and those already had steep premiums attached to them — they now have the flexibility to choose from a wide selection of new projects and multiple property formats.”
“With new supply at the prime level looking limited over the next 18 months we expect prices to strengthen in the remainder of 2014,” said Kate Everett-Allen, international residential research analyst at Knight Frank consultancy.
Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 AED/ft2
SALE
6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 AED/ft2
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
SOGA1  SOGA2
Call management
SOGA1  SOGA2
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