Real Estate & Editors' Choice News in United Arab Emirates from Propertyshowrooms.com

UAE 'is more popular with expats'

Fri, 2 Mar 2012 00:00:00 GMT

A quality of life survey among British expatriates has revealed the United Arab Emirates (UAE) is one of the top places in the world to emigrate to.

The UAE climbed up the NatWest table from tenth position five years ago to sixth place in 2011-12, with many of those questioned stating their financial situation has "improved dramatically" since moving to the nation.

Positive sentiment such as this may encourage other Brits to consider moving to the UAE, particularly as there are signs Dubai's real estate market is picking up.

Last month, Cluttons highlighted figures from the Dubai Land Department, which showed a 64 per cent increase in the number of sales completed in the final quarter of 2011 compared to the previous three-month period.

Head of sales and leasing for Cluttons Dubai Mario Volpi explained property in the emirate is becoming more desirable.

"Dubai has definitely learnt lessons from the past, and, as such, more and more transparent legislation is being passed at government or federal level, which can only improve prospects for buyers and sellers alike," he asserted.

'Marginal increase' for Dubai property prices

Fri, 18 Nov 2011 00:00:00 GMT

The value of residential real estate in Dubai increased marginally in October compared to September this year, new figures show.

According to the most recent data from REIDIN.com, property prices in Dubai climbed by an average of 0.41 per cent last month.

However, the villa market is performing much better than the apartment sector, with the former recording a 1.58 per cent rise in values during October.

By contrast, the amount paid for apartments in the emirate dropped by 0.78 per cent during the same period.

This is the sixth consecutive month that the price of apartments in Dubai has fallen, while villas have seen their stock rise consistently since April of this year.

Flats fared better in terms of rental income, seeing a 0.85 per cent increase in the amount tenants paid in October, while houses experienced a 1.51 per cent hike in rents.

Last month, a poll carried out by Reuters questioned experts about the prospects for Dubai's real estate sector.

Respondents predicted that property values in the emirate will fall by a further ten per cent, with the anticipated decline attributed to issues associated with oversupply, a lack of interest from investors and worries over the European debt crisis.

Dubai property values rise, Abu Dhabi's fall

Mon, 17 Oct 2011 00:00:00 GMT

The value of residential real estate in Dubai has risen, the latest figures from REIDIN.com show, while properties in Abu Dhabi saw their prices fall in September, compared with August.

In Dubai, capital values across apartments and villas increased by an average of 1.48 per cent, month-on-month.

However, villa price rises outpaced the market for flats, with a jump of 1.69 per cent, in comparison to the 1.28 per cent hike experienced in the apartments sector.

But the story was not the same in nearby emirate Abu Dhabi, where average property values fell by 0.47 per cent in the same period.

Again, it was real estate in the villa category that was more robust, with this kind of dwelling seeing prices drop by just 0.05 per cent, compared to a 0.88 per cent decline for apartments.

In the recent Colliers International Global Investor Sentiment 2011 Survey, 40 per cent of Middle East investors stated that they feel pricing has gone too far, when the underlying market fundamentals are considered.

However, the remaining 60 per cent believed that there is room for growth within real estate markets in the region, or that values are at the correct level.

Property market in the UAE 'will' grow

Thu, 28 Jan 2010 00:00:00 GMT

The UAE property market is going to make a strong comeback over the next few years, it has been claimed.

International property agency Chesterton made the prediction based on the emirate's improving economic situation, which is leading to an increase in investor confidence.

Robin Teh, director of valuations and research, has forecast that the property market in the country will grow at a rate of four to six per cent a year until 2015.

Mr Teh said: "Dubai is on its way out of the property slump and this is due to a rise in confidence within the consumer and financial sector in addition to a surge in transaction volumes."

However, he believes that despite the stabilisation seen in the market, the price of mortgages is slowing the recovery down, with interest rates tending to favour the lenders rather than the borrowers.

Premier Holidays recently reported a large rise in the number of individuals booking holidays to Dubai.

UAE tipped as bargain location

Mon, 21 Dec 2009 00:00:00 GMT

The UAE may be a place where property buyers seeking bargains will increasingly look in 2010, it has been predicted.

Such a tip came from chief executive officer at Homesgofast.com Nicholas Marr, who said that many investors are hoping to pick up cheaper deals in a number of locations.

He commented: "Savvy investors all know that profits are made on the purchase and the UAE, in particular Dubai, may benefit from bargain hunters."

Such a situation may see people looking to take advantage of the recent downturn in the Dubai market.

Spain is a current beneficiary of this sort of thinking and this can account for it sneaking ahead of France in the recent Prime Location November figures for online searches, commenting that "distressed property" and "below market value property" are pushing that country's real estate sector.

Potential UAE investors may note that according to Homesgofast.com, Abu Dhabi will be in the top ten for the leading places to invest in 2010.

TV programme puts spotlight on Dubai

Thu, 29 Jan 2009 00:00:00 GMT

Piers Morgan is set to provide ITV1 viewers with an insight into the ongoing development of Dubai.

In a special 60-minute programme airing tomorrow (January 29th) at 21:00 GMT, the former Daily Mirror editor gives an account of his recent trip to the affluent desert city.

After visiting many of Dubai's major property developments, Morgan also speaks to expatriates who have made the emirate their home and analyses the prospects for future innovation.

According to ITV.com, the controversial journalist will also meet Dr Sulaiman Al-Fahim, one of the key figures in the recent takeover of Manchester City.

In comments reported by the Dubai Select blog, Morgan explains why the future for Dubai remains bright, despite the economic downturn.

"Everyone I have met here says the same thing - Dubai won't just survive, it will thrive and that's because it's bursting with ambition and drive," he comments.

Visit our off-plan property United Arab Emirates page.

Dubai show to feature "wide range of properties"

Mon, 26 Jan 2009 00:00:00 GMT

A number of both international and regional real estate firms are to be present at this year's International Property Show - Dubai, it has been announced.

Organisers of the event, Strategic Marketing and Exhibitions, have revealed that delegates from a number of countries are to attend the show, which is taking place at the Dubai International Convention and Exhibition Centre from February 15th to 17th, Aim 186 Real Estate reports.

Representatives from Thailand, Spain, South Africa, Bulgaria, Egypt and the USA will all be present at the show, which gives developers the opportunity to target potential investors and inform them of opportunities that are currently available in the real estate market.

"From an investor's perspective, they can choose from a wide range of properties depending on their requirements and take advantage of comparatively reduced prices," managing director of Strategic Marketing and Exhibitions Dawood Al Shezawi stated.

The event is taking place amid current uncertainty in Dubai's property market, with state-owned developer Nakheel recently halting construction on what is set to become the world's tallest tower.

UAE: 2009 Will be a buyers' market

Fri, 16 Jan 2009 00:00:00 GMT

Market research released this week showed that house prices fell eight per cent in the final quarter of 2008. While speculation is still rife on rent and ownership prices for 2009, Emirates Business studied the market in 2008 and the current scenario...

Villa prices falling by up to 50% in some exclusive developments in Dubai

Mon, 5 Jan 2009 00:00:00 GMT

Property prices in one of Dubai's most exclusive residential developments are falling steeply according to real estate agents...

Developers are buying up “The World” in Dubai

Tue, 30 Dec 2008 00:00:00 GMT

Nakheel, the Dubai developer, has reportedly sold 70 percent of The World, the dramatic collection of 300 islands off the coast. “This year’s and the previous year’s invitation quota were taken up and have all been sold,” Nakheel managing director Hamza Mustafa told the National newspaper. The World is shaped to resemble a map of the world...

UAE Investors Get More Bang For Their Buck

Fri, 12 Dec 2008 00:00:00 GMT

In the current economic climate, many people are wondering if now is the right time to buy. With speculation that prices will experience a slowdown in 2009, some potential buyers are holding off to get more for their money...

Dubai property named in football stars honour

Sat, 6 Dec 2008 00:00:00 GMT

Premier League footballer Steven Gerrard has become the latest high-profile figure to endorse Dubai's luxury property market.

A developer in the emirate has decided to name its new £150 million apartment building in Dubai after the Liverpool captain.

In return for allowing his name to be used, the 28-year-old will receive the keys to a luxurious apartment in Steven Gerrard Tower worth over £1 million.

At the launch of the development in London this week, Gerrard said: "I am truly privileged to be part of such a pioneering project."

The England international is not the first sportsman to receive the honour, as Formula One legend Michael Schumacher and tennis great Boris Becker already have buildings in Dubai named after them.

Other sports stars such as David Beckham have also invested in Dubai property.

State-owned developer Nakheel is currently involved in a project to build the world's tallest building in Dubai – a tower which will measure over 1 kilometre.

Visit our off-plan property United Arab Emirates page.

UAE: Realty Poised To Ride Out Market Storm

Fri, 21 Nov 2008 00:00:00 GMT

Inflated prices of properties on the Palm Jumeirah have fallen 40 per cent as the number of 'distress sale' e-mails have begun to increase, real estate brokers said...

Dubai tower to become city's 'centrepiece'

Fri, 14 Nov 2008 00:00:00 GMT

A new mixed-use development project in Dubai will become central to the development of the city, it has been claimed.

The Nakheel Harbour & Tower, which incorporates a one-kilometre-high building with a waterfront development, has been described as "Dubai's capital" by architect Woods Bagot.

Three sections of residential property are to be included in tower, which may attract interest from overseas property developers looking to make purchases in the city.

Middle East managing director Mark Mitcheson-Low explained that extensive research had gone into the design of the building.

"It has the flexibility to adjust and react to the future demands and requirements of its tenants, owners and operators in the way in which they work, live and play," he remarked.

Another United Arab Emirates city, Abu Dhabi, is also seeing large amounts of development.

Peter Sheard of property firm Gensler noted that building was taking place "against a background of huge liquidity".

Golf developer and Tiger Woods consider more developments outside of Dubai

Mon, 15 Sep 2008 00:00:00 GMT

The developers behind The Tiger Woods Dubai, Tatweer, are interested in developing similar projects in other countries in partnership with Woods...

Dubai 'bucking the trend'

Thu, 11 Sep 2008 00:00:00 GMT

The property market in Dubai is defying trends in the rest of the world as the market in the emirate continues to soar, it has been stated.

A demonstration of this will come when the Cityscape Dubai 2008 event takes place next month, albawaba.com states.

It said 60,000 participants from 150 different countries will be at the event, held from October 6th to 9th at the Dubai International Exhibition Centre.

The group director at Cityscape Conferences, Shabnam Rawal, commented: "You only have to look out of any window to see the astronomical property growth that is transforming cityscapes."

Events held during the expo include the World Architecture Congress, which will be chaired by former London mayor Ken Livingstone.

Those looking for the right sort of Dubai property to invest in may be best buying smaller residential units for renting out, a report has said.

Bahrain-based investment bank Sico has said studios and one-bedroom apartments bring in higher rental yields than other properties, Zawya.com reports.

Burj Dubai Reaches Record Height

Mon, 1 Sep 2008 00:00:00 GMT

Burj Dubai, the tower being developed by Emaar Properties PJSC, has reached a new record height of 688 meters...

Britons look beyond Europe

Fri, 15 Aug 2008 00:00:00 GMT

Holidaymakers from the UK are becoming increasingly keen to leave Europe behind, it has been revealed.

According to a study by Cater Allen Private Bank, 63 per cent of Britons want to visit a long-haul destination.

The survey identified a number of reasons for this, such as the desire to escape the crowds and explore somewhere off the beaten track.

In addition, some respondents said they wanted to sample a different culture and enjoy an adventure in a new location.

However, some admitted to wanting the bragging rights of having been the first person in their peer group to visit a certain location.

Commenting on the findings, Sally Ann Watts of Cater Allen said: "Britons are moving away from traditional holidays and becoming aspirational in their holiday choices."

The desire to travel outside Europe could also be related to the current economic climate, as the pound recently slumped to an all-time low against the euro, which has led to holidays in places such as Italy becoming more expensive.

Dubai 'offers investment opportunities'

Wed, 6 Aug 2008 00:00:00 GMT

Foreign property buyers could find Dubai a potentially lucrative investment market, analysts have stated.

According to Shelter Offshore, the emirate is positioning itself as a global city in the same vein as Moscow, New York and London.

However, it currently offers much lower property values than its counterparts, which has prompted the website to suggest that people consider entering the market.

Investors were said to be already benefiting from considerable economic growth in Dubai, which has seen house prices go up by 79 per cent in the last 18 months.

This means that investors can enter a growing market at a relatively low price and take advantage of further house price inflation.

Shelter Offshore commented: "When you start to compare property prices against these giants even at current rates Dubai still represents very good value."

This comes after Paul Collins, property editor at BuyAssociation, said prices in Dubai have been going up "quite steeply" since January.