Slip in luxury home value creates opportunities

09.05.2015
In the last four weeks, developers such as Damac, Cayan, Palma Development and RP Global have had launches with price tags very much in the premium/super-premium space.

More global cities have overtaken Dubai in the pace at which their luxury home values are gaining — the emirate is now placed at the 27th spot in the latest rankings issued by Knight Frank.

The consultancy rates San Francisco at the top, with a gain of 14.3% in the 12 months to March 15. In comparison, Dubai’s premium homes were down 1.1% during the period, Gulf News reported.

Developers and investors have seen it as an opportunity. In the last four weeks, developers such as Damac, Cayan, Palma Development and RP Global have had launches with price tags very much in the premium/super-premium space.

Developers selling super-premium can take heart from another detail put out by Knight Frank — according to a survey by the consultancy, 36% of high networth investors from the Middle East have plans to buy a home in the next 12 months.

“The amount of new projects in the Dubai market means properties will increasingly need to appeal to potential buyers’ sense of value,” said Paul Maisfield, CEO of MPM Properties. “That means a shift towards more affordable properties, particularly close to the Expo 2020 site, and an emphasis on incentives and unique selling points, especially in the luxury segment. We expect buyers to benefit from these trends.”

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