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120 new projects launched in Dubai in two years

11.08.2015
120 new projects launched in Dubai in two years
Statistics presented by the popular real estate web portal Lookup claims.

Online real estate UAE portal Lookup presented a new report and the summary statistics on the Dubai property market development in the past two years, which revealed that over the past 24 months, 120 new projects were launched in the city.

The maximum number of projects, as expected, was presented by such biggest players of the Dubai real estate market as Emaar Properties, Nakheel, Damac Properties, Meraas Holding, Meydan and Dubai Properties.

Lookup Head of Research, Eric Hodges also could not but notice the latest major market trend — the decline in property prices after a stunning price tags growth by 34-45% in 2012. Over the past 12 months, according to his data, the correction in house prices in the well-developed Dubai residential communities led to a prices decline by 7 - 10 %.

Off-plan housing market in the last 24 months has gained the biggest popularity among property buyers, as developers offer favorable payments terms and affordable prices. Affordability as a major housing market trend also came to the fore in Dubai in recent years —Hodges said.

Another recent report by the Dubai property analytics Reidin and Unitas, titled ‘The Curious Cases of Payment Plans’, tracked this trend in numbers: while two years ago only 29% of developers offered so-called back-weighted or back-loaded payment schemes, which suggest that the biggest part of the property cost will be paid after handover, in 2015 already 55% of developers did that for their new off-plan projects sales.

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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