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No rapid decline for Dubai real estate market

08.07.2015
No rapid decline for Dubai real estate market
According to a new study, 47% of potential investors will not change their plans to buy property in Dubai, UAE.

According to the research, studying future prospects for the real estate market in Dubai, conducted by London Business School, no sharp decline in the pace of development, nor any rapid declines in prices is likely to Dubai real estate market in the near future.

Despite the recent forecast of the rating agency Standard & Poor's, which predicts a decline in Dubai property prices before the end of this year by another 20%, this survey respondents asked by London Business School, in the majority have the opposite opinion. 84% of the 200 survey participants, including business executives and this school graduates with an MBA degree, do not believe that Dubai faces a recession similar to that of the 2008.

As for the predictions of growth or decline in housing prices in Dubai during the next 12 months, respondents' opinions are split almost evenly: 50% believe that prices will fall, and 47% - that prices will remain stable or will rise. However, two-thirds of respondents believe that Dubai property market gains the signs of maturity, therefore, in any case, we shouldn’t expect the same further rapid rise in prices, as it was in previous years.

However, none of the respondents of the London Business School survey agreed with alarming rates of 15-20% price reduction predicted to Dubai by such analysts as Standard & Poor's and others. More than half of respondents believe that a fall or rise in prices in any case, will be within 10% of the current value of the property, 31% said that the price reduction will be less than 10%, and 20.5% of respondents are even so optimistic, that forecast for Dubai prices increase by more than 10%.

Thus, 47% of businessmen surveyed admitted that they were going to invest in Dubai’s property in the near term, and more than a third named strong economic performance of Dubai and the good prospects for economic development of the emirate as the main reasons for their confidence in a stable property market here.

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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