Property type
No. of bedrooms
Area
Show offers

Prime Dubai house prices forecast to fall

14.12.2014
Prices of prime property in Dubai is forecast to fall by up to 10% during 2015 but growing interest from Indian buyers will cushion the declines, according to a new report by Knight Frank. Prices of prime property in Dubai is forecast to fall by up to 10% during 2015 but growing interest from Indian buyers will cushion the declines, according to a new report by Knight Frank.
Knight Frank’s Prime Global Cities Forecast said that luxury residential markets face a diverse range of challenges and opportunities in 2015, Arabian Business reported.
Of the eight cities included in its forecast, Dubai sits at the bottom but even here prime prices are only expected to slip by 5-10%.
It said limited supply and a growing appetite from Indian purchasers should cushion the market. It added the top risks to growth in 2015 include cooling measures introduced by the government, a slowing global economy and high inflation combined by low household income growth.
Knight Frank's report said: "At the end of 2013, the Dubai Land Department doubled the transfer fee to 4 percent and the UAE Central Bank introduced mortgage caps. As a result, a proportion of buyers face the prospect of much higher property purchase costs than they did 18 months ago.
"Largely because of this, buyer sentiment has weakened notably. In annual terms, residential transaction volumes saw a double digit decline in the six months to September. Also, in the third quarter of 2014 prime residential prices experienced their first quarterly fall (albeit of just 0.2 percent) in almost three years."

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
Call management
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