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Dubai recorded the highest number of transactions per day

25.03.2016
Dubai recorded the highest number of transactions per day
March 24 recorded the highest level of buyers’ activity in the Dubai real estate market since the beginning of the year.

Experts estimate that a record number of 170 transactions per day were registered in the Dubai’s property market on March 24.

According to the Dubai Land Department, the total amount of property deals transacted yesterday is over US $ 400 million.

In general, the current week promises to become one of the most rewarding in terms of business activity in the housing market. The total cost of apartments, villas and land plots sold on Monday in Dubai valued at US $ 163 million, and on Tuesday and Wednesday, property buyers paid an average of US $ 73 million per day for their newly acquired properties.

Thus, data provided by the Dubai Land Department on a steady increase in buying activity in the Dubai’s housing market since the beginning of the year, imexre.com has earlier reported of, is now being confirmed. During the first two months of the year a total amount of the emirate's real estate units valued at US $ 17.8 billion was sold, according to the official data from DLD.

“Sentiments are slowly turning around by way of snapping up “below market” deals as well as end users looking to capitalise on current conditions,” said Sameer Lakhani, Managing Director at Global Capital Partners. “It is the nature of the turnaround that will be debated in the coming months — but what we are seeing is a clear bottoming out process underway.”

Analysts from Allsopp & Allsopp are also ready to join this opinion, indicating that the demand for real estate properties in Dubai significantly exceeds the number of offers on the market.

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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