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Dubai real estate got pricier for foreign investors

19.08.2015
Dubai real estate got pricier for foreign investors
Due to the weakening of other currencies, and US dollar strengthening Dubai property price for some of the foreign investors increased by 60%.

A joint report by the two analytical companies Unitas and Reidin, said that in that segment of Dubai real estate, which has historically depended on foreign investments, the cost of luxury villas in such areas and residential communities as Palm Jumeirah, Emirates Hills and Downtown Dubai, increased in the last 12 months by an average of 60% in ruble terms, while in AED the price of the same property decreased over the same period in some cases by as much as 20%.

According to Reuters, Russian ruble has updated its six month low against the US dollar on Monday this week, which made Dubai real estate more expensive for the majority of Russian investors.

Dubai Land Department in its reports repeatedly called Russians among the 10 nations most actively investing in Dubai real estate, particularly in the premium property on the man-made island Palm Jumeirah, as well as in the central areas of the city Dubai Marina and Downtown Dubai.

In total, foreign investors from countries outside GCC invested about US $ 8 billion in Dubai real estate in the first half of 2015. Indian, Pakistani and British investors proved to be the most active property buyers in Dubai property market.

However, overseas property investments still present itself as a reliable source of stable profit. Those investors, whose base currency is not the US dollar, continue to gain high returns on their investments in property abroad their native countries, including Dubai. After analyzing a number of world real estate markets, including the US, UK, France and Singapore, the researchers came to the conclusion that Dubai is among the cities with one of the highest real estate return rates since 2002, when foreigners were allowed to buy freehold property there.

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Ref.No: AP670
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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