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Prices slip, but Dubai still prime city

13.06.2015
Prices slip, but Dubai still prime city
>The Global House Price index of Knight Frank revealed a 6.1% decline over the past 12 months, putting the emirate at 53rd position in the list of 56 countries.

House prices in Dubai slipped by 3.7% in the first quarter 2015 compared with the fourth quarter 2014, according to a new report.

The Global House Price index of Knight Frank revealed a 6.1% decline over the past 12 months, putting the emirate at 53rd position in the list of 56 countries.

However, the consultancy's Prime Global Cities Index, which tracks the performance of luxury residential prices, with Dubai being listed among the cities that have outperformed the index since 2009.

Dubai-based Phidar Advisory said in its new report that property prices and rentals had declined during the six weeks of second quarter 2015, but the ongoing erosion of sale prices was a healthy correction.

JLL, a global real estate consultancy, has also said Dubai is expected to consolidate its position as the top city for corporate occupiers in the Middle East and North Africa region over the next three years.

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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