Dubai property

Property in Dubai

Dubai

Property rates of residential units in Dubai property are all set for a downfall, but only in 2009. Due to a slow pace in the coming up of new property projects in Dubai Property this year, the impending plunge in property prices in the emirate has been delayed. In the current scenario of Dubai Property market, the residential property prices will soar to their zenith, possibly by the later half of 2008 before falling down. In other words, the prediction made by Dubai Property analysts last year that property rates in Dubai Property would fall in 2008 has been put off for another year.
2007 has been a slow year in terms of the number of completed projects handed over in the Dubai property Property market. Of the estimated 57,000 property units due to be completed, only 11,000 have come up so far. The supply-demand ratio of residential property units in Dubai Property has to be revised in order to accommodate the estimated 25,000 residential units for 2007, 64,000 for 2008 and 68,000 for 2009. The demand for residential units in Dubai Property has been on the rise and will continue to do so in direct proportion to population growth in the coming years. By 2010, the population of Dubai Property will be around 2 million and to meet this demand, on an average 45,000 housing units are required every year.
According to Dubai Property market analysts, property rates will soar by 10-15 percent and 5-10 percent in 2007 and 2008 respectively. By 2009, property prices in Dubai Property will begin a downward journey resulting in a cumulative dip of 15-20 percent by the year 2011.
Having said this, a lot depends upon the delivery of completed housing projects in Dubai Property matrix. Moreover, the much talked about property boom in Dubai property is expected to continue at least until the end of the decade.

Dubai property

Property in Dubai

Dubai

Dubai property real estate experts wonder whether the state of global markets recently can fuel the real estate boom in the emirate or dampen its spirits. August has been a phenomenal month for global capital markets as they witnessed a credit crisis. Dubai Property has been no exception. However, the effect on Dubai Property real estate market is something that still needs to be seen.
View – Dubai Property real estate slowdown was inevitable
Some real estate experts feel that the slowing down of the real estate boom in Dubai Property was inevitable, more so with the coming up of the new law that necessitates opening of escrow accounts for Dubai Property real estate developers. This means that the funds of off-plan buyers will only be released on the permission of the Dubai Property Land Department.
In this context, the global credit crunch last month has resulted in making borrowing difficult. This can have major implications for real estate sector in Dubai property. Even the Dubai Property government, which is the largest real estate developer in the region, will now have to pay more for obtaining debt through Islamic bond issues.
Implications of soaring cost of money on the Dubai Property real estate sector
For real estate developers, money means a cost to be juxtaposed against the probable returns on investment on a particular project. The corollary to this is that the higher the cost of money, the lower the returns and a lesser probability of the project reaching an end.
The double impact of tight account rules and the difficulties in obtaining credit will give a tough time to real estate developers in Dubai Property. One offshoot of this can be a slowdown in the coming up of new construction projects in the Dubai Property real estate market.
It still remains to be seen whether this will have a good or bad effect on the house prices in Dubai Property. On the one hand, there can be a rise in the value of the present homes in the Dubai property real estate market. On the other hand, there may be a dent in people’s confidence in the real estate sector in Dubai Property.
Steps Dubai Property Government can take to curb rising difficulties for real estate sector
Real estate analysts hope that the Dubai Property government, with its pivotal role in the real estate developments across the emirate will take prompt steps to counter the current circumstances.
A few options:
o Special mortgage offers
o More focus on the rental market
The present situation being a little vague, it will take some time before the dust settles after the storm and things can be seen in a newer light. For now, all we can do is to hope the best for Dubai Property real estate market in the coming months.

Dubai property

Property in Dubai

Dubai

Dubai property analysts have been predicting a boom in timeshare property sector in Dubai Property since the last few years. Reasons attributed to the impending boom in Dubai Property’s timeshare property:
• Beachfront property communities• Great shopping and dining options• Geographical location of Dubai Property
All in all, Dubai Property is hailed as one of the most popular holiday destinations of the world. Consequently, timeshare property is something that has great potential when it comes to the emirate. But, the statistics from Dubai Property market reveal that this potential has not been exploited to the fullest.
Resort timeshare property ownership has shown only 2 percent UAE penetration rate although it was estimated that Dubai Property timeshare will gradually overtake Orlando to become the world’s largest timeshare property market. This is ample testimony that the local timeshare sector in Dubai Property is still untapped. The main restraining force acting behind this is the absence of a proper regulatory framework to manage Dubai Property’s timeshare industry.
The endless possibilities of Dubai property timeshare property sector
Dubai Property as one of the most sought after holiday destinations opens its doors to a whole spectrum of prospective buyers who want to own some property in the emirate, but do not wish to stay there whole year round. Once the rules and regulations are in place for timeshare property, it can usher in a new phase of Dubai Property market boom. Moreover, timeshare property is comparatively cheaper to other options, and thus more affordable to holiday-makers.
Fractional ownership property and vacation clubs are already witnessing phenomenal annual growth world over. The timeshare property market has a turnover of more than 20 billion AED on global level. Property experts estimate 2 billion AED worth of timeshare sales per year in the Middle East region. However, in the absence of timeshare laws to protect the interests of the investor, the growth curve has not shown the expected spurt.
Rules governing withdrawal of an investor from timeshare property as well as cancellation of the timeshare contract are also required urgently. A lot of timeshare property units in Dubai property are still under construction.
Dubai Property timeshare market is still in its infancy but in due course of time will mature as the pre-requisites get into shape.
Timeshare Property
For those who do not know or have a vague idea about timeshare property, here is the definition.
Timeshare property entails buying the right to spend a particular period of time in a holiday property.

Dubai property

Property in Dubai

Dubai

Thinking of buying that dream house in Dubai property? Here are a few guidance tips that will be of help for residential property buyers in Dubai Property as the property market in the emirate is on the fast track.
• The most crucial factor is taking help from a reputable property agent/ real estate agency. Take advice from friends, family and local acquaintances if you are new to Dubai property.
• Have a clear idea of your property needs and budget and share it openly with your property agent. S/he will be able to guide you properly if these factors are known beforehand. This will save you time as well as heartbreaks later on.
• Do a thorough research of the property market. One should be well conversant with property rate trends, locations and comparative property values therein.
• Have a clear idea of the use you’ll put the property to – whether as a house or as an investment. This will have a direct impact on the location and type of property you’ll be buying.
• Have your lifestyle and everyday routine in mind if you are buying residential property for personal use. A community near a good school might be more useful to you than owning property in a remote suburb. On the other hand, having residential property within easy reach of local markets is desirable if you are planning to rent it out.
• If you are buying property for investment purposes instead of personal use, explore the potential returns out and out. Internet is a good reference source for getting hold of property market trends.
• If you are financing your property, take help from a financial advisor at the outset. Having a pre-approved mortgage is good. Also be prepared to pay at least 10 percent of the price as down payment in Dubai property.
• Always keep in mind the amount of money that will add up in the cost as property agent fee, mortgage application charges, transfer charges, registration fee and maintenance fee.
• Before signing the property papers, check the actual property thoroughly.
• If you are purchasing property off-plan, carefully consider all the details your consultant has acquired. • Before signing the property contract, go through the terms and conditions thoroughly.
• Be prepared in advance with all the documents you’ll need.
• Confirm the date you’ll be moving into your new property.
Last but not the least, have a party to celebrate your great achievement!

Dubai property

Property in Dubai

Dubai

Commercial property in Dubai property has a 20 percent turnout at present. This is way high in comparison to the global average of commercial property yield of 6 percent. Dubai Property property analysts opine that by the year 2010, the high yield will show a downward trend as the expected growth in commercial property units in Dubai Property is threefold than the present status. Consequently, the yield may even touch the global figures in some years from now.
Dubai Property commercial property at present has no liquid secondary market and the high rental yields on commercial units in the emirate are due to the selling prices of developments underway in Dubai Property market. For a short while, as the demand is outstripping supply of commercial property in Dubai Property, there will be a boost in the rents.
There has been some sluggishness in the expected increase in rentals this year due to a delay in the completion of commercial property projects in Dubai Property. However, some parts of Jumeirah Lake Towers, Sheikh Zayed, TELCOM and DIFC are due to be delivered in the property market by the end of 2007. This has been a sustaining force in the Dubai Property commercial property rental rise.
Today Dubai property is hailed as one of the most expensive business cities in the world wherein the average rent for Dubai Property amounts to 89 dollars per square foot. With more and more commercial units expected to hit Dubai Property market in the coming years, this average will also decline. At the same time, it should be noted that the average of 89 dollars per square foot is quite low a figure when compared to that of other international cities like Moscow, Paris and Hong Kong.
Office rents in Dubai Property have increased by 40 percent year-to-date. At the same time, the occupancy rates of commercial property units in Dubai Property are approximately 99 percent. The commercial units in Dubai Property market have gradually acquired a crucial role that even old Dubai Property has witnessed an increase of about 36 percent in commercial rents. At the same time, commercial rentals in new Dubai Property have increased by 45 percent.
The main reason behind a higher yield by Dubai property commercial property units is that while the cost of freehold commercial units has increased, the selling prices still remain at the lowest wrung of the ladder among business cities. So the average figures come at around 400 dollars per square foot, making the rental yields soar up to 20 percent as against a global average of 6-7 percent.
In both old and new Dubai Property, new Grade A commercial property units have come up recently. The commercial capillaries of the emirate are finding their way into newer locations. Units in off-plan developments in DIFC, Jumeirah Lake Towers and Burj Dubai Property are being sold for 17 percent higher prices as compared to figures at the beginning of 2007.
All in all, it is a boom time for Dubai Property commercial property market. At present, at least.

Dubai property

Property in Dubai

Dubai

Property rates of residential units in Dubai property are all set for a downfall, but only in 2009. Due to a slow pace in the coming up of new property projects in Dubai Property this year, the impending plunge in property prices in the emirate has been delayed. In the current scenario of Dubai Property market, the residential property prices will soar to their zenith, possibly by the later half of 2008 before falling down. In other words, the prediction made by Dubai Property analysts last year that property rates in Dubai Property would fall in 2008 has been put off for another year.
2007 has been a slow year in terms of the number of completed projects handed over in the Dubai property Property market. Of the estimated 57,000 property units due to be completed, only 11,000 have come up so far. The supply-demand ratio of residential property units in Dubai Property has to be revised in order to accommodate the estimated 25,000 residential units for 2007, 64,000 for 2008 and 68,000 for 2009. The demand for residential units in Dubai Property has been on the rise and will continue to do so in direct proportion to population growth in the coming years. By 2010, the population of Dubai Property will be around 2 million and to meet this demand, on an average 45,000 housing units are required every year.
According to Dubai Property market analysts, property rates will soar by 10-15 percent and 5-10 percent in 2007 and 2008 respectively. By 2009, property prices in Dubai Property will begin a downward journey resulting in a cumulative dip of 15-20 percent by the year 2011.
Having said this, a lot depends upon the delivery of completed housing projects in Dubai Property matrix. Moreover, the much talked about property boom in Dubai property is expected to continue at least until the end of the decade.

Dubai property

Property in Dubai

Dubai

Dubai property real estate experts wonder whether the state of global markets recently can fuel the real estate boom in the emirate or dampen its spirits. August has been a phenomenal month for global capital markets as they witnessed a credit crisis. Dubai Property has been no exception. However, the effect on Dubai Property real estate market is something that still needs to be seen.
View – Dubai Property real estate slowdown was inevitable
Some real estate experts feel that the slowing down of the real estate boom in Dubai Property was inevitable, more so with the coming up of the new law that necessitates opening of escrow accounts for Dubai Property real estate developers. This means that the funds of off-plan buyers will only be released on the permission of the Dubai Property Land Department.
In this context, the global credit crunch last month has resulted in making borrowing difficult. This can have major implications for real estate sector in Dubai property. Even the Dubai Property government, which is the largest real estate developer in the region, will now have to pay more for obtaining debt through Islamic bond issues.
Implications of soaring cost of money on the Dubai Property real estate sector
For real estate developers, money means a cost to be juxtaposed against the probable returns on investment on a particular project. The corollary to this is that the higher the cost of money, the lower the returns and a lesser probability of the project reaching an end.
The double impact of tight account rules and the difficulties in obtaining credit will give a tough time to real estate developers in Dubai Property. One offshoot of this can be a slowdown in the coming up of new construction projects in the Dubai Property real estate market.
It still remains to be seen whether this will have a good or bad effect on the house prices in Dubai Property. On the one hand, there can be a rise in the value of the present homes in the Dubai property real estate market. On the other hand, there may be a dent in people’s confidence in the real estate sector in Dubai Property.
Steps Dubai Property Government can take to curb rising difficulties for real estate sector
Real estate analysts hope that the Dubai Property government, with its pivotal role in the real estate developments across the emirate will take prompt steps to counter the current circumstances.
A few options:
o Special mortgage offers
o More focus on the rental market
The present situation being a little vague, it will take some time before the dust settles after the storm and things can be seen in a newer light. For now, all we can do is to hope the best for Dubai Property real estate market in the coming months.

Dubai property

Property in Dubai

Dubai

Dubai property analysts have been predicting a boom in timeshare property sector in Dubai Property since the last few years. Reasons attributed to the impending boom in Dubai Property’s timeshare property:
• Beachfront property communities• Great shopping and dining options• Geographical location of Dubai Property
All in all, Dubai Property is hailed as one of the most popular holiday destinations of the world. Consequently, timeshare property is something that has great potential when it comes to the emirate. But, the statistics from Dubai Property market reveal that this potential has not been exploited to the fullest.
Resort timeshare property ownership has shown only 2 percent UAE penetration rate although it was estimated that Dubai Property timeshare will gradually overtake Orlando to become the world’s largest timeshare property market. This is ample testimony that the local timeshare sector in Dubai Property is still untapped. The main restraining force acting behind this is the absence of a proper regulatory framework to manage Dubai Property’s timeshare industry.
The endless possibilities of Dubai property timeshare property sector
Dubai Property as one of the most sought after holiday destinations opens its doors to a whole spectrum of prospective buyers who want to own some property in the emirate, but do not wish to stay there whole year round. Once the rules and regulations are in place for timeshare property, it can usher in a new phase of Dubai Property market boom. Moreover, timeshare property is comparatively cheaper to other options, and thus more affordable to holiday-makers.
Fractional ownership property and vacation clubs are already witnessing phenomenal annual growth world over. The timeshare property market has a turnover of more than 20 billion AED on global level. Property experts estimate 2 billion AED worth of timeshare sales per year in the Middle East region. However, in the absence of timeshare laws to protect the interests of the investor, the growth curve has not shown the expected spurt.
Rules governing withdrawal of an investor from timeshare property as well as cancellation of the timeshare contract are also required urgently. A lot of timeshare property units in Dubai property are still under construction.
Dubai Property timeshare market is still in its infancy but in due course of time will mature as the pre-requisites get into shape.
Timeshare Property
For those who do not know or have a vague idea about timeshare property, here is the definition.
Timeshare property entails buying the right to spend a particular period of time in a holiday property.

Dubai property

Property in Dubai

Dubai

Thinking of buying that dream house in Dubai property? Here are a few guidance tips that will be of help for residential property buyers in Dubai Property as the property market in the emirate is on the fast track.
• The most crucial factor is taking help from a reputable property agent/ real estate agency. Take advice from friends, family and local acquaintances if you are new to Dubai property.
• Have a clear idea of your property needs and budget and share it openly with your property agent. S/he will be able to guide you properly if these factors are known beforehand. This will save you time as well as heartbreaks later on.
• Do a thorough research of the property market. One should be well conversant with property rate trends, locations and comparative property values therein.
• Have a clear idea of the use you’ll put the property to – whether as a house or as an investment. This will have a direct impact on the location and type of property you’ll be buying.
• Have your lifestyle and everyday routine in mind if you are buying residential property for personal use. A community near a good school might be more useful to you than owning property in a remote suburb. On the other hand, having residential property within easy reach of local markets is desirable if you are planning to rent it out.
• If you are buying property for investment purposes instead of personal use, explore the potential returns out and out. Internet is a good reference source for getting hold of property market trends.
• If you are financing your property, take help from a financial advisor at the outset. Having a pre-approved mortgage is good. Also be prepared to pay at least 10 percent of the price as down payment in Dubai property.
• Always keep in mind the amount of money that will add up in the cost as property agent fee, mortgage application charges, transfer charges, registration fee and maintenance fee.
• Before signing the property papers, check the actual property thoroughly.
• If you are purchasing property off-plan, carefully consider all the details your consultant has acquired. • Before signing the property contract, go through the terms and conditions thoroughly.
• Be prepared in advance with all the documents you’ll need.
• Confirm the date you’ll be moving into your new property.
Last but not the least, have a party to celebrate your great achievement!

Dubai property

Property in Dubai

Dubai

Commercial property in Dubai property has a 20 percent turnout at present. This is way high in comparison to the global average of commercial property yield of 6 percent. Dubai Property property analysts opine that by the year 2010, the high yield will show a downward trend as the expected growth in commercial property units in Dubai Property is threefold than the present status. Consequently, the yield may even touch the global figures in some years from now.
Dubai Property commercial property at present has no liquid secondary market and the high rental yields on commercial units in the emirate are due to the selling prices of developments underway in Dubai Property market. For a short while, as the demand is outstripping supply of commercial property in Dubai Property, there will be a boost in the rents.
There has been some sluggishness in the expected increase in rentals this year due to a delay in the completion of commercial property projects in Dubai Property. However, some parts of Jumeirah Lake Towers, Sheikh Zayed, TELCOM and DIFC are due to be delivered in the property market by the end of 2007. This has been a sustaining force in the Dubai Property commercial property rental rise.
Today Dubai property is hailed as one of the most expensive business cities in the world wherein the average rent for Dubai Property amounts to 89 dollars per square foot. With more and more commercial units expected to hit Dubai Property market in the coming years, this average will also decline. At the same time, it should be noted that the average of 89 dollars per square foot is quite low a figure when compared to that of other international cities like Moscow, Paris and Hong Kong.
Office rents in Dubai Property have increased by 40 percent year-to-date. At the same time, the occupancy rates of commercial property units in Dubai Property are approximately 99 percent. The commercial units in Dubai Property market have gradually acquired a crucial role that even old Dubai Property has witnessed an increase of about 36 percent in commercial rents. At the same time, commercial rentals in new Dubai Property have increased by 45 percent.
The main reason behind a higher yield by Dubai property commercial property units is that while the cost of freehold commercial units has increased, the selling prices still remain at the lowest wrung of the ladder among business cities. So the average figures come at around 400 dollars per square foot, making the rental yields soar up to 20 percent as against a global average of 6-7 percent.
In both old and new Dubai Property, new Grade A commercial property units have come up recently. The commercial capillaries of the emirate are finding their way into newer locations. Units in off-plan developments in DIFC, Jumeirah Lake Towers and Burj Dubai Property are being sold for 17 percent higher prices as compared to figures at the beginning of 2007.
All in all, it is a boom time for Dubai Property commercial property market. At present, at least.