Real Estate & Rental & Lettings News in United Arab Emirates from Propertyshowrooms.com

Dubai real estate outperforms Abu Dhabi property

Fri, 18 May 2012 00:00:00 GMT

The value of residential real estate in Dubai increased by 1.53 per cent in April, compared to a month earlier, while in Abu Dhabi property prices dropped by 0.65 per cent.

In Abu Dhabi, this now means the cost of buying a home has fallen 5.82 per cent year-on-year. By contrast, it has become more expensive to make a purchase in Dubai, with prices there climbing by 11.46 per cent in the same period, according to the REIDIN figures.

It is a similar picture in the rental market too, with Dubai experiencing both monthly and yearly rental price rises. However, the cost of leasing smaller apartments in the emirate fell last month.

Rental values in Abu Dhabi continued to slide month-on-month and registered a 9.38 per cent decline since April 2011. Conversely, it is small apartments that are performing well in Abu Dhabi, with flats measuring under 50 sq m or between 51 sq m and 100 sq m seeing monthly rises in rental charges.

In the latest Knight Frank Prime Global Cities Index, Dubai was the best performing Middle Eastern destination, posting a quarterly increase in property values of four per cent during the first three months of 2012.

Rental growth recorded for Dubai property

Fri, 30 Mar 2012 00:00:00 GMT

Rents for residential property in Dubai climbed by one per cent in the first quarter of 2012, in comparison to the final three months of 2011.

A new report published by Asteco Property Management noted the value of villas for sale rose by four per cent in the same timeframe.

Elaine Jones, chief executive officer of the firm, commented: "We are seeing further signs that confidence is returning to Dubai as the residential market continues to recover. Rents in some areas have risen as quality developments slowly reach full occupancy."

According to the organisation, one of the most lucrative types of property to invest in is one-bedroom apartments in Dubai's downtown area. The cost of leasing such a home jumped by five per cent quarter-on-quarter between January and March this year.

The REIDIN.com monthly house price index for the emirate also indicates Dubai's real estate market is recovering, with villas recording particularly robust capital growth of 1.54 per cent in February, compared to January.

Dubai property prices climb marginally

Tue, 20 Dec 2011 00:00:00 GMT

There has been a small monthly increase in the value of residential real estate assets in Dubai, new figures show.

The latest data from REIDIN.com found that property prices climbed by 0.79 per cent between October and November this year.

However, villas in Dubai performed better than apartments, realising a 1.78 per cent rise in this period, as opposed to the 0.36 per cent fall in value experienced with flats.

In Abu Dhabi, however, the picture was less positive, with an overall decline in real estate values of 0.51 per cent recorded in the same timeframe.

Again, villas appear to hold more appeal than flats, with this kind of home seeing its prices drop by 0.10 per cent, in comparison with a 0.86 per cent slide for apartments.

Earlier this month, Asteco published research suggesting that the rental market in Dubai has stabilised, with fewer fluctuations recorded in the amount charged to tenants each month across both apartment and villa lettings.

Dubai rental market 'less volatile'

Thu, 15 Dec 2011 00:00:00 GMT

There has been a stabilisation in the rental market in Dubai, it has been revealed.

According to research conducted by real estate agency Asteco, the amount being charged for renting an apartment or villa in Dubai is holding steady in most areas of the city.

Meanwhile, the firm noted tenants are taking the opportunity to move to higher-quality accommodation while rents are slightly lower.

Chief executive officer at the organisation Elaine Jones commented: "Transaction levels are rising as job security and increased market confidence result in people seeking tenancy upgrades and home ownership."

Earlier in the month, some of Carillion's top executives expressed their confidence in an improvement in Dubai's property sector.

Heads of the UK-based construction firm, which is involved in several developments in the emirate, said in a conference call that they are "anticipating good growth in Dubai" and the company is on track to meet its revenue target over the coming three years, the National reported.

Rents fall in the north of the UAE

Tue, 23 Aug 2011 00:00:00 GMT

Rental values have dropped in the northern regions of the United Arab Emirates (UAE), it has been revealed.

Figures published by CB Richard Ellis (CBRE) showed that in the northern emirates, rents declined by 18 per cent year-on-year, with Ajman seeing the largest falls of 28 per cent.

Meanwhile, Umm al-Quwain saw its residential rents decline by 22 per cent, while the markets in Sharjah and Ras Al Khaimah also experienced drops.

There could be more downward pressure on the rents achieved by property in the UAE, the report noted, due to the amount of new stock entering the market.

Earlier this year, the UAE government announced it would be dedicating funds towards infrastructure improvements in the northern emirates to help cope with a growing population.

In June, new visa rules were unveiled for foreigners who own real estate in the UAE, with the length of visas extended from six months to three years. Officials hoped this would help stimulate investment in its property sector.

Dubai residential real estate market 'stabilising'

Thu, 21 Jul 2011 00:00:00 GMT

The residential property market in Dubai is stabilising, according to a report published by Cluttons.

Although the firm revealed that rents for real estate in the sector are still falling, the rate of decline has dropped significantly during the second quarter of the year, compared to the first three months of 2011.

Indeed, high-end villas are bucking the trend, the data showed, with rents in some areas increasing by between 1.5 and three per cent during the same period.

Cluttons also noted that the final two quarters of the year could see further improvement for Dubai's real estate, as demand from Bahrain and Egypt has an impact on the industry.

Earlier this month, Floyd Pinto, manager of customer care at Better Homes, told Emirates 24/7 that his firm had noted an increase in Indian investors entering the property market in the UAE.

He stated that enquiries from India have increased, which could result in a rise in transactions as buyers look to take advantage of the competitive pricing available on homes.

New high-rises set to bolster UAE property market

Sat, 29 Jan 2011 00:00:00 GMT

Property investment in the UAE is likely to get a boost from the significant number of new residential high-rises that are due to open at Abu Dhabi's Reem Island this year, it has been suggested.

Simon Gray, regional head at property firm Chesterton International, argued that the growth of new residential stock will help to address the supply problems in Abu Dhabi's property market which has seen professionals working in the emirate move their homes to Dubai where rent is cheaper.

"As these developments [on Reem Island] will be the newest in the market, landlords will be keen to attract tenants, especially as the surrounding area is not yet developed with support facilities and amenities," he told Gulf News.

"I believe that as a general average, rentals will be ten to 25 per cent lower than the average in the main island."

The comments come after Nicholas Marr, chief executive of Homesgofast.com, recently claimed that he expects investor sentiment in Dubai to rise over the coming 12 months.

Rental rates spiralling downwards in UAE

Thu, 13 Jan 2011 00:00:00 GMT

Rental rates in the UAE have entered a rapid rate of decline, with two real estate reports highlighting the effect that oversupply is having on the market.

The latest report from property management company Asteco has suggested that rents and leases in Abu Dhabi were down as much as seven per cent during the last three months of the year - adding that further falls are expected in 2011.

Elsewhere, the latest report from real estate consultants Cluttons shows that average rental prices fell by as much as 16 per cent at the lower end of the market, while those in other areas were down by eight per cent.

As a result, those looking to buy property in the UAE and prospective tenants are expected to have a wide range of choices in 2011.

According to Elaine Jones, chief executive of Asteco, the arrival of a number of new developments to the market will contribute towards further downward pressure being placed on resale and rental rates in the emirate.

"These delays are hindering market confidence which waits in anticipation for the release of stock," she added.

UAE property buyers to benefit from reduced fees?

Wed, 22 Dec 2010 00:00:00 GMT

People investing in UAE real estate could benefit from lower costs following the announcement of a review into fees for municipal services in Dubai.

Earlier this year, the emirate's Dubai Municipality (DM) announced plans to revise the system for collecting fees from homeowners for providing municipal services.

This included a decision to collect five per cent of rental value of properties from all residential units in the emirate irrespective of their status of being leased or owned.

However, homeowners have been left outraged as they claim it is a duplication of the fee they already pay to developers for maintaining buildings and surrounding areas.

This has led to the Dubai Executive Council setting up a committee for reviewing the DM's plans.

The Council has appointed Abdulrahman Al Saleh, director general of the Department of Finance in Dubai, to head the committee that will investigate the complaints from homeowners.

It was recently predicted by real estate experts that residential property prices in Dubai, already on a downward trend, could continue to fall for another two years.

Rents falling in UAE

Fri, 5 Nov 2010 00:00:00 GMT

Individuals interested in buying real estate in the UAE may be interested in the latest data from a real estate firm in the country.

According to Landmark Advisory, oversupply in the market has led to a number of landlords of new units undercutting market rates.

This has meant that rents in the region have fallen by 38 per cent in some of the emirate's most popular residential areas.

"We estimate that average vacancy rates in Dubai are currently 15 to 18 per cent but will increase to 19 to 24 per cent by 2012," Jesse Downs, director of research and advisory at the company, explained.

"Even considering the Abu Dhabi commuter demand, it is clear that average rents in Dubai will continue on a downward trajectory."

Indeed, she confirmed that some developers and landlords are drastically reducing rents by up to 20 to 30 per cent below current market rates in order to achieve higher occupancy.

Individuals interested in buying real estate in the UAE may be interested in the latest data from a real estate firm in the country.

According to Landmark Advisory, oversupply in the market has led to a number of landlords of new units undercutting market rates.

This has meant that rents in the region have fallen by 38 per cent in some of the emirate's most popular residential areas.

"We estimate that average vacancy rates in Dubai are currently 15 to 18 per cent but will increase to 19 to 24 per cent by 2012," Jesse Downs, director of research and advisory at the company, explained.

"Even considering the Abu Dhabi commuter demand, it is clear that average rents in Dubai will continue on a downward trajectory."

Indeed, she confirmed that some developers and landlords are drastically reducing rents by up to 20 to 30 per cent below current market rates in order to achieve higher occupancy.

UAE property market attracts British buyers, but fear still remains

Tue, 20 Jul 2010 00:00:00 GMT

British buyers are beginning to rekindle their interest in the UAE property market, it has been suggested.

Terry Hobbs, media manager at propertyshowrooms.com, has claimed that, although the levels of interest are nowhere near their peak of a few years ago, buyers are beginning to return to the sector.

"We are still not seeing the same levels of traffic as we were a year and a half or two years ago - nowhere near as much. I think there is still quite a bit of fear there," Mr Hobbs confirmed.

His comments come after research from Asteco found that both property prices and apartment rental rates have fallen in the past 18 months.

According to the organisation, rents fell by between seven and 15 per cent during the second quarter of 2010, compared to the first three months of the year.

However, the latest report from CB Richard Ellis has suggested that there are positive signs for the year ahead, with tourism rising and slight reductions in average lease rates.

Stability returning to UAE property market

Thu, 1 Jul 2010 00:00:00 GMT

Property investors in the UAE will be bolstered by news that the region's property market is showing signs of stability.

According to a report by Jones Lang LaSalle, the level of residential real estate transactions rose by 50 per cent during the second quarter of 2010, in comparison to the first three months of the year.

Jones Lang LaSalle claims that so far this year 14,000 residential units have been completed.

"Unlike the office sector, no major delays or cancellations are foreseen in the residential market over the remainder of 2010," the report said.

"Finance is a key factor in market recovery. The residential market has shown signs of improved lending in 2010 as more banks are injecting liquidity into the mortgage market."

However, it is not all good news as the total number of transactions taking place in the market remains 35 per cent down on the same period of 2009.

Earlier this year, overseas property portal HomesGoFast.com recommended that investors look to buy almost-finished houses to minimise risk.

UAE investors told to 'target almost completed projects'

Thu, 13 May 2010 00:00:00 GMT

Property investors looking to take advantage of the cheap prices of real estate in Dubai should look at almost finished houses, it has been claimed.

Overseas property portal HomesGoFast.com has made the prediction as it says it would minimise risk on the part of the buyer.

Nicholas Marr, chief executive officer at the firm, claimed that purchasing non-complete properties will mean there is less chance of developers failing to complete the project and could lead to more flexibility on prices.

"[Investors] are in it for the long term and I think that is where Dubai is heading," Mr Marr added.

"They want to change from this fast buck type of investment and I think that is going to stand Dubai in good stead because it is going to have a different type of feel to it."

The property market in Dubai recently posed its first annual price increase since the collapse of the market in 2008.

According to figures released by Colliers International, real estate has grown in value by four per cent over the past year and was boosted by a six per cent rise in the cost of apartments in the last three months.

UAE officials clamp down on developers

Tue, 11 May 2010 00:00:00 GMT

Officials in the UAE are cracking down on developers who are stalling on new projects in the emirate.

The Dubai-based Real Estate Regulatory Agency (Rera) is questioning developers as to why builds are not being started and urging organisations to take more responsibility.

Property investors in the region will be pleased to hear that by implementing these procedures, the agency is able to cancel projects that are unlikely to be completed and allow investors to recoup their money.

Marwan bin Ghalita, Rera's chief executive officer, explained the process that the organisation has to go through.

He said: "We are asking them to give clear reasons as to why a developer has not commenced a project, since they are aware of what is happening on site.

"We are in favour of mediation that tries to solve the problem between the developer and the investor through mutual agreement. And if no agreement is reached, parties can move to the Property Court."

According to the latest report from Jones Lang LaSalle, the real estate market in Dubai will not recover until after 2011.

Rental prices 'gradually rising' in the UAE

Fri, 16 Apr 2010 00:00:00 GMT

Despite expected price falls in the property market in the UAE individuals with real estate in the region will be bolstered by news that rental prices are rising and expected to remain strong.

A new poll conducted by Reuters has claimed that falls in overall property values could be expected of around ten per cent with recovery unlikely until 2012.

However, the market is experiencing a growth in rental values of homes with a 1.1 per cent increase seen in March for apartments and 1.3 per cent for villas during the same period, compared to the same timeframe last year.

"We probably underestimated, a year ago, the amount of migration from the other emirates to Dubai that has created a lot of demand," said analysts Nabil Ahmed.

Meanwhile, a report by property services company Asteco predicted that rates would remain stable as the year progressed.

Earlier this year, one of the largest developers in Dubai claimed that the property market in the emirate is over the worst and is ready to begin posting a steady recovery.

Valuation measures 'essential' to UAE recovery

Mon, 5 Apr 2010 00:00:00 GMT

Property investors in the UAE need to see more professional valuation standards if confidence is to return to the once booming market in the emirate, it has been claimed.

A new report, produced by real estate consultancy firm Jones Lang LaSalle, has stated that the gulf region needs to introduce an "accurate and regular" valuation system to give the market more stability.

Currently, potential investors in the region do not have a reliable measure of market information and as such must rely on other sources to gauge the position of the property sector.

According to Jones Lang LaSalle, the lack of a measure was a major factor in the property boom and subsequent bust of the market.

The report says that the introduction of a reliable scheme will cause a return of "trust and confidence required for the recovery of the real estate markets and inject independence, integrity and objectivity" to the region.

Dubai's Land Department recently released figures which showed that there had been a 75 per cent increase in property lending compared to last year.

Property lending up in UAE

Fri, 26 Mar 2010 00:00:00 GMT

Things could be looking up for the battered and bruised property market in the UAE, a new survey has suggested.

According to the latest figures released by the Dubai Land Department, the emirate has experienced a massive 75 per cent increase in property lending, compared to the same period of 2009 - suggesting that buyer confidence may be returning.

The news is further backed up by Khadija Ebrahim, a mortgage advisor at the Independent Finance brokerage in Dubai, who believes that banks have begun to relax their terms to help attract new customers.

In addition, her brokerage company has witnesses a growth in inquiries for mortgage finance in recent times.

This could be just the news that the property market in the UAE is looking for after experiencing a crash thanks to the global financial crisis last year, as it seeks to tempt wealthy property investors back.

One of the leading developers in the region, Deyaar, recently stated that the market in the emirate has already reached the bottom and will begin to show signs of recovery during 2011.

UAE in property bargains prediction

Mon, 19 Oct 2009 00:00:00 GMT

The price of property in Dubai is expected to fall by 20 per cent as the market is oversupplied, an expert has claimed.

JP Grobbelaar, director of research and advisory at Colliers International, was reported in Business Intelligence Middle East stating that the drop in property value was "not unrealistic".

He added that there is a 25 per cent oversupply in the property market.

Prices have already fallen by 48 per cent in the last year and one in four properties are unoccupied.

"Unless there is significant growth in population over the coming two years, we expect the oversupply to remain in the foreseeable future," Mr Grobbelaar remarked.

According to the real estate broker Chesterton, property investors have been taking advantage of the falling prices to make investments.

Brendan Coakley, managing director at the broker's Middle East division, said international and domestic buyers had been making long-term investment decisions and purchasing while the property was at the bottom of the market.

UAE tipped for property comeback

Fri, 2 Oct 2009 00:00:00 GMT

The UAE is set for a property boost as a new report has said Dubai is due to see its prices start to rise again.

International property agency Chesterton has predicted that the emirate will see values increase by between four and six per cent each year between now and 2015.

Chairman of Chesterton International Salah Mussa remarked: "Domestic and international buyers now have the opportunity to take long-term investment decisions and purchase property at the bottom of the market before the economy starts to grow."

He added that the "high quality" rental prospects offered by the emirate, combined with its accessibility to London, India and other parts of Asia, make Dubai a strong prospect.

Improving infrastructure and rising tourism numbers are also positive developments that will aid its growth, Mr Mussa predicted.

Dubai and Abu Dhabi were listed among the best prospects for long term property investment in a recent report by international real estate research firm Jones Lang LaSalle.

UAE property 'up for auction'

Sat, 15 Aug 2009 00:00:00 GMT

UAE property seekers can pick up bargains in Dubai as a number of auctions are taking place there, it has been revealed.

Those keen to grab a cheaper residence in the emirate will be able to do so thanks to a fall in demand caused by the world economic and property downturn, the BBC reports.

Prices there have dropped by 40 per cent since last year and around 40,000 under construction will come on to the market in the coming months, the corporation noted.

Auctioneer Raymond Kuceli from Madania Real Estate said many people in the region have not yet grasped that an auction does not mean exceptionally low prices.

He told the broadcaster: "The biggest myth we're trying to dispel among bidders is that they'll get rock-bottom prices simply because it's an auction."

However, the company's first sale by this method saw 50 per cent trimmed from the price it would have commanded last year.

The price decline in Dubai has slowed down, according to a recent report by Colliers International.

Noting a nine per cent drop in the first quarter of this year, it said this level of decline is "very unlikely to be repeated".

UAE 2020 Olympic bid 'to boost property sector'

Fri, 3 Jul 2009 00:00:00 GMT

The United Arab Emirates' (UAE) recent decision to bid for the 2020 Olympic Games and the World Expo will provide a boost to the emirates' real estate sector, according to experts.

Speaking to PropertyWire, Chet Riley of Nomura International pointed out that large-scale events such as the Games tend to spark speculative activity in real estate markets ahead of their launch.

"There is always a run-up in the real estate prices before the event is held," he explained.

Mr Riley's comments were echoed by Robert Mckinnon, managing director of equity research at Al Mal Capital, who added that "increased infrastructure spending" before a key event would have a "positive" impact on the property sector as well.

In related news, Minor Hotel Group chief operating officer Dilip Rajakarier recently suggested to Emirates Business 24/7 that the credit crunch does not appear to be affecting investment in the Middle East, with lower property prices in the UAE attracting buyers.

Dubai tenants 'facing rent increases'

Thu, 22 Jan 2009 00:00:00 GMT

The cost of renting property in Dubai is likely to rise despite a decree being issued by the ruler of the emirate.

Sheikh Mohammed bin Rashid Al Maktoum recently passed a directive meaning tenants who renewed their contracts for either residential or commercial property last year will see their rents remain constant throughout 2009.

However, those whose payments are more than 25 per cent below the guideline figures published in the new Dubai rental index will still be susceptible to price increases, as the ruling will not apply.

Managing director of real estate consultancy Astecto Andrew Chambers noted that price rises could affect "quite a lot of people", especially expatriates who arrived in the emirate before inflation increases began.

"Those people could have been in there two, three, four, five years and historically they've kept it down so that they would be in line for increases," he remarked.

Meanwhile, United Arab Emirates-based investment bank Shuaa Capital recently predicted the value of Dubai property could drop by up to 60 per cent during 2009.

Rental Hikes Capped At 20% In Dubai

Thu, 22 Jan 2009 00:00:00 GMT

The maximum a landlord can hike rent is 20 per cent, according to an important clause in the new decree issued by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and ruler of Dubai...

UAE: Tenants look to drive a hard bargain

Fri, 16 Jan 2009 00:00:00 GMT

For too long, rises in the amount paid to keep a roof over our heads has outstripped inflationary pressures, supply-demand imbalance and annual pay rises...

Dubai rentals 'levelled off' during 2008

Tue, 13 Jan 2009 00:00:00 GMT

Rental rates for apartments in Dubai levelled off during the course of last year, a new study has concluded.

Asteco's research report for the fourth quarter of 2008 found that average growth for such properties in the emirate was four per cent, putting rental rates for a one-bedroom apartment at AED123,000 (GBP22,400), while three-bed properties generated rates of AED243,000.

The firm noted that the rental market in the region has seen a boost since some banks suspended loan issuance, as this meant landlords relaxed payment terms, giving tenants the opportunity to pay their rent in smaller, more frequent amounts.

Noting that there has been a move from a speculator-driven property market to one that benefits end users, managing director of Asteco Andrew Chambers said: "This shift could potentially lead to improved project planning, which in turn will limit construction delays and assure timely delivery of quality developments."

The Dubai Real Estate Regulatory Agency is currently in the process of producing new plans for the emirate's property sector, which it hopes will restore the confidence of those considering making a purchase in the region.

Slowdown Hits Dubai Rents: Asteco

Mon, 12 Jan 2009 00:00:00 GMT

Dubai's office rents have dropped by 11-16 per cent as the global economic slowdown started impacting businesses, according to an analyst at Asteco, a leading property management firm...

Lower House Rents In Sight In UAE

Mon, 5 Jan 2009 00:00:00 GMT

Residential rents in Abu Dhabi and Dubai are set to fall this year, according to officials and experts...

Confusion Over Dubai Rent Cap Expiry

Fri, 2 Jan 2009 00:00:00 GMT

Tenants in Dubai are concerned that this year's rent cap has not yet been announced, despite the current one due to expire as we enter 2009...

UAE Real Estate Set For Reforms

Fri, 2 Jan 2009 00:00:00 GMT

Last year started off with a bang in Dubai's real estate sector, with sky high sale prices and rents, and a series of attention-grabbing projects in the pipeline...

Qatar's real estate market sound: Report

Mon, 22 Dec 2008 00:00:00 GMT

According to the report, residential rents across Doha have increased on average 30 percent per annum, since 2005...

Dubai recommended for longterm investment

Sat, 20 Dec 2008 00:00:00 GMT

Dubai is one of the best locations in the world for property investors interested in long-term returns, an expert has claimed.

UK-based property adviser Mohammed Kashani-Akhavan said that the emirate is well-placed to survive the current slowdown and continue its development into a major world destination.

He also claimed that recent setbacks for Dubai developers will create opportunities for savvy investors, as property prices will stabilise before demonstrating major growth once again.

"Dubai is one of the best cities in the world for property investment in the long term," Mr Mohammed Kashani-Akhavan said.

"It is a great time to invest because the golden rule of successful property investment is to buy low when everybody else is selling," he added.

Peter Cooper, author of the book Opportunity Dubai, told Property Wire this week that prospective investors should not be overly concerned by falling prices.

"It is a feature of emerging markets that price downturns are swift," he said.

A recent article in the Sunday Times said Dubai will continue to attract foreign investment due to its high "global visibility".

Visit our off-plan property United Arab Emirates page.

UAE Revised rent cap policy sought

Wed, 12 Nov 2008 00:00:00 GMT

Rent cap policies have to be diversified by price category in order to manage and maintain a defendable welfare distribution structure to manage an optimal economic growth, Dubai Chamber said yesterday...

Landmark Properties: Leasing to End-users Expected to Grow

Wed, 5 Nov 2008 00:00:00 GMT

Landmark Properties announced that its analytics division, Landmark Advisory, expects leasing activity in Dubai to accelerate as sellers adapt to shifting demand patterns that signal the transition of Dubai's real estate scene to an end-user driven buyers' market...

Mixed reaction to new property index in UAE

Wed, 20 Aug 2008 00:00:00 GMT

The proposed rental index by the UAE's Real Estate Regulatory Agency (Rera) is expected to have different effects on landlords and tenants...

Expect higher rents in Dubai after new law

Fri, 15 Aug 2008 00:00:00 GMT

Get ready to pay still higher rents in the emirate of Dubai once home owners' associations come into effect this year...

UAE rents to continue upward trend

Tue, 5 Aug 2008 00:00:00 GMT

UAE rents leaped by more than 17 per cent in 2007 and are expected to swell further this year, because demand far outstrips supply, experts said...

Mall Rents in UAE to Soften on Oversupply by '08-End

Thu, 31 Jul 2008 00:00:00 GMT

A softening of rental rates in Dubai's retail sector is in the offing as the emirate faces a potential oversupply in retail gross leasable area (GLA) by end-2008 when supply is estimated to surge to 2.07 million square metres from the current 1.6 million square metres...

Residential Rents Jump 22% In Dubai

Thu, 24 Jul 2008 00:00:00 GMT

Annual residential rents in Dubai jumped by 22 per cent, but no significant increases were observed in the second quarter, a latest report said...

Al Ain landlords demanding high rents after border restrictions

Tue, 22 Jul 2008 00:00:00 GMT

The border restrictions, which lasted only five days, had a serious impact on Al Ain residents. Landlords and real estate agents have been openly violating the law by demanding exorbitant rents...

Dubai popular with British tourists

Thu, 17 Jul 2008 00:00:00 GMT

Dubai has made it into a list of the year's top ten holiday hotspots for the very first time.

Cheapflights.co.uk compiled the list in order to see which destinations were attracting the most holidaymakers from the UK.

Spain was said to be especially popular by the price comparison site, which found that many people booked trips to places such as Alicante, Malaga and Tenerife.

However, Dubai's growing popularity led to it being included in the top ten for the first time, achieving a ranking of number six.

This places it ahead of many far more established locations, including resorts in Turkey and Portugal.

The increasing popularity of the emirate could potentially enhance its appeal with overseas property buyers, among whom it has recently become a hotspot of activity.

Dubai was recently recommended to investors by Shelter Offshore, which said people could be able to cash in on its "tourist-based potential".

Abu Dhabi Home Costs Beat Dubai

Tue, 15 Jul 2008 00:00:00 GMT

The housing prices and rental prices in Abu Dhabi have overtaken prices in Dubai for the first time, according to the latest industry report...

UAE recommended to overseas investors

Thu, 8 May 2008 00:00:00 GMT

The United Arab Emirates (UAE) has been flagged up as a good location for overseas property buyers to consider.

According to ShelterOffshore.com, the Asian country currently offers a number of attractions for foreign investors.

For example, the website highlighted the recent increase in visitor numbers, as well as the revenues generated by its tourism industry.

In addition, the country's economy was said to have a strong economy which is experiencing a sustainable rate of growth.

This has prompted the website to recommend that overseas property buyers consider possible investment opportunities in the UAE.

ShelterOffshore.com said: "Each emirate is worth closer inspection by would-be property investors."

The online portal added that the country's real estate is currently "thriving", despite ongoing financial problems across the world, such as the credit crunch.

This was largely attributed to the fact that these issues have put investors from the UAE off investing abroad and are therefore putting money into the domestic market.

Since 2002, more than 100,000 Britons have purchased property in Dubai alone, according to Barclays.

Dubai 'offers cure for January blues'

Wed, 23 Jan 2008 00:00:00 GMT

People purchasing investment property in Dubai are currently benefiting from a surge in the number of visitors this winter.

According to Cheapflights.co.uk, the region's good climate has made it a highly popular destination with British holidaymakers.

The website said it was proving to be particularly appealing to leisure travellers in the wake of the festive season, as many people in the UK were seeking respite from the "January blues".

This means that owners of rental property in Dubai will be seeing high demand for their services from tourists.

Francesca Ecsery, general manager at Cheapflights.co.uk, added that many airlines were currently offering cheap flights, therefore making a holiday at this time of year even more appealing.

She commented: "January is a great time to grab a bargain - flight sales are everywhere."

According to World Travel and Tourism Council, Dubai's has seen "rapid economic growth" since its emergence as a popular holiday destination.

Dubai "exciting" for property investment

Thu, 29 Nov 2007 00:00:00 GMT

Dubai is full of opportunities for British overseas property investors, according to one expert.

Suzanne Clay, senior business development manager for Barclays Buying Abroad, said that rental demand in the country was high and rental income will likely rise in the near future.

"Anticipated rental income is about six to ten per cent, but at the moment, because of the shortage of completed property and in order to meet the demands of those who are working there, it could typically be more than that," she explained.

Mr Clay added that it is vital for prospective buyers to ensure they are purchasing a "quality" property and that it is in the right area, adding: "Location is so important."

He also mentioned that the Dubai government is looking to boost the number of tourists visiting the country to 15 million by 2012.

Since 2002, more than 100,000 Britons have purchased property in Dubai, according to Barclays.