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Dubai continues to lead the charts as the speediest emerging residential market

16.09.2014
Dubai continues to lead the charts as the speediest emerging residential market
Despite the decline in the pace of growth in the last five months, Dubai’s residential property market is the fastest growing market in world with a 24% increase.
Dubai’s residential property market despite witnessing a stabilizing effect in the last five months, still remains the fastest growing market for the fifth successive quarter, according to Knight Frank global consultancy, reported by Gulf News.
In the last year and a half, Dubai residential space increased by 24% as compared to Turkey and Oreland which underwent a 14% and 12.5% respectively, making it to the top of the ranking.
The United Kingdom managed to make it to the fifth position due to the continuing demand for after-hour joints in and around London. However, the United States of America was given the 19th position, with a growth rate of 6.9%.
Dubai’s residential growth at 24%, however remains lower than the 27.7% that was achieved during the time span of 2013 and March 2014. Moreover, the market is experiencing a shift and the mainstream market is outpacing the luxury market. This is because it is easier to get mortgage for buying property below AED 5 million as per the rules put in place by the UAE Centeral Bank, informed Knight Frank's report.
Dubai’s residential market is turning into a buyer’s market as there is the readiness of mortgage, residential projects and market growth, said Ziad Al Chaar, Managing Director at Damac Properties.
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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