Logo
  • Order call
  • Call management

Property type
No. of bedrooms
Area
Show offers

Dubai property market to absorb 65,000 new units to 2019

06.09.2015
Dubai property market to absorb 65,000 new units to 2019
According to Lookup, Dubai will be able to absorb all the 65,000 residential units under construction without markets over saturation.

Lookup, a real estate information portal, presented its report on the prospects for the housing market development in Dubai, suggesting that the emirate will become more affordable for real estate buyers and tenants before 2019.

Lookup report forecasts that 45% of the expected housing market supply (nearly 65,000 new housing units) will be handed over during the next 18 months.

Gibran Y Bham, co-founder of Lookup and author of the report, said: "Considering that we are now in more uncertain global economic times and with the Dubai market having slowed considerably since mid-2014, this supply will most definitely put downward pressure on capital and rental values."

But he added: "We believe that this supply will be absorbed, Dubai will become more affordable and thus more competitive and a number of government initiatives will begin to bear fruit in 2017."

Lookup report suggests taking a look at the current year figures and that of 2008 for comparison, when in 2008 the percentage of the future market supply amounted to 332% of the existing stock, whereas today it is just 35% of the current supply. Dubai saw 44,000 new construction project launches since 2012, while 2008 alone saw 47,775 new projects revealed. So it is appropriate to talk about the current healthy market’s self-correction, Y Bham said.

Bham added: "Real estate investors in Dubai of 2015 are not heavily leveraged as in 2008. The steady market correction starting in early 2014 following government policies has allowed investors to divest of excess holdings.

"One of the key reasons that the Dubai market declined in 2008 was the fact that there was an overwhelming amount of projects under-construction and very little ready supply. Panic set in for a variety of reasons but also because Dubai did not have the credibility in 2008 as it does now."

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
SOGA1  SOGA2
Call management
SOGA1  SOGA2
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