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Dubai rental sector on the rise

12.10.2015
Dubai rental sector on the rise
Residential rentals in Dubai fell just 0.4% year-on-year.

According to Knight Frank consultancy, Dubai rental sector is now much more stable than the sales sector, where prices declined the most over the last year.

However, Prime Rental Index from Knight Frank noted that premium residential rentals in Dubai sometimes even show an upward trend, although 0.2% annual rate of growth is the minimum since the first quarter of 2010.

At the same time Global House Price Index from Knight Frank has rated Dubai 56th of 56 cities in terms of sales house prices growth, for as of the date the annual report was published, the decline in prices in this sector was 12.2%. As for the rental sector, there Dubai was ranked 11th out of the 18 markets with the fastest rentals growth. Cape Town topped the rating with the annual rentals increase of 10.4%.

The similar trend is observed across all the sectors of the Dubai real estate market. In the sector of industrial property, according to Knight Frank, the average rent increased by 4% in the last six months. And in the future, the need for industrial, commercial and office real estate rents will grow, William Neill, Partner at Knight Frank UAE, emphasized, saying: "Over 4 billion people live within 8 hours flight from Dubai covering major markets in Africa and Asia. Dubai's geographical location, supply chain (ports and airports), legislation and infrastructure make it an ideal supply and re-distribution gateway."

"We are very optimistic about the Dubai real estate which continues to show outstanding growth rates year-on-year. This demonstrates the market's ability to attract buyers and foreign investors based on its stability and high ROI. This is the perfect time for international investors to invest in Dubai's real estate," Hafeez Abdulla, Chairman of 'The H Holding Enterprise' has added.

Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
SALE
2,350,000
Ref.No: AP670
1BR Apt
1,308 ft2
0 AED/ft2
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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