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Russians eying Dubai’s property again

04.08.2016
Russians eying Dubai’s property again
Since most of the world’s currencies tied up to USD started stabilizing many foreign investors are back to UAE real estate market.

This is evidenced by statistics from one of the leading real estate search portals in the UAE. Russia’s made up to 17% of overall site traffic in the last six months, the portal reports.

"As we looked at the statistics for the first six months of 2016, we noticed a definite increase in visitors from Russia and other major countries looking at homes for sale in Dubai," said the sales director of the mentioned property trader.

According to Global Property Guide, Dubai is still one of the cheapest world centers to buy property in after Monaco, London, Hong Kong, New York and Paris. An average per square meter price for Dubai’s property amounts to USD 5000. Besides, real estate ROI, including rental yields, is one of the world highest in Dubai and stands at about 7% per annum.

Dubai Land Department statistics also confirms that many foreign buyers from countries, where national currencies are highly dependent on the USD course, have now started to return to Dubai property market. In just two months, from April through May, foreign and local investors have almost doubled their activity increasing property investments by 92%.

The total amount of all real estate investments, including those made by Emirati and their neighbours for five months since the beginning of the year, was AED48 billion (USD13 billion) as of May. And foreign investments in Dubai real estate made by 127 nationalities amounted to AED12 billion (USD3.27 billion) for the above period. Britons, Indians and Pakistani, together with Russians form the largest groups of foreign investors interested in Dubai’s real estate.

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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:

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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