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Flats priced as high as AED55m

03.03.2015
Flats priced as high as AED55m
The costliest penthouse listed by the consultancy is 18,478 square feet penthouse in MAG 214 with six bedrooms and eight bathrooms.

Investors seeking premium property in Dubai spent billions of dirhams with a deal for an apartment in the Burj Khalifa topping the sales list in 2014 with an AED60 million deal, Emirates 24/7 reported.

A market analysis done by Luxhabitat, a Dubai-based real estate brokerage firm, found that maximum number of properties above AED5 million were sold in Downtown Dubai last year followed by Dubai Marina and Palm Jumeirah.

The costliest penthouse listed by the consultancy is 18,478 square feet penthouse in MAG 214 with 6 bedrooms and 8 bathrooms. Second on the list is a four-bedroom penthouse in Le Rêve (French for ‘The Dream’) priced at AED72 million. The unit offers full sea and Palm Jumeirah view. At third place is an apartment, covering the whole top floor of Elite Residences. It offers panoramic views of Burj Al Arab, Marina and Palm Jumeirah.

Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
SALE
730,000
Ref.No: AP165
Studio Apt
630 ft2
1,159 AED/ft2
SALE
2,350,000
Ref.No: AP670
1BR Apt
1,308 ft2
0 AED/ft2
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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