Logo
  • Order call
  • Call management

Property type
No. of bedrooms
Area
Show offers

Housing prices in Dubai fell 2% in the third quarter

18.10.2015
Housing prices in Dubai fell 2% in the third quarter
New report by Cavendish Maxwell consultancy presented data on the real estate prices dynamics in Dubai.

The year’s third quarter was highly indicative of the Dubai real estate market’s further outlook, said Cavendish Maxwell consultancy in its recent report.

According to statistics compiled by the consultancy’s experts, Dubai residential property prices between July and September decreased in the same moderate pace as in the previous second quarter. An average decline was about 2%, although different market sectors showed rather discrepant results.

Apartments and villas sales prices in Dubai, according to Cavendish Maxwell, decreased equally by 2%, and were close to the average for the residential real estate sector as a whole. But annual Dubai property prices decline rates pronounced by Cavendish Maxwell are almost twice lower from that previously proposed by JLL and Tasweek: Cavendish Maxwell analysts had counted, that Dubai apartment prices fell by 6%, while villas prices declined by 9% in a year.

Meanwhile, rental sector saw no prices alterations in the third quarter, all experts agree: apartment rentals remained unchanged, while villa rentals fell slightly in the third quarter.

Such Dubai areas as Dubai Sports City, Dubailand, International City, Jumeirah Golf Estates, and Jumeirah Village Circle, saw 6000 new housing units entering the market in the third quarter, the report said. However, demand from property buyers, especially in the affordable housing sector, still outperforms supply.

Premium housing prices in such Dubai areas as Business Bay, Downtown, Burj Khalifa and Palm Jumeirah slowed decline in the third quarter of the year, while the areas with more affordable housing, such as International City, Motor City and Discovery Gardens, showed the most significant prices decrease figures: property prices here fell by 9-10% over a 12 month period from Q3 2014.

Prices also began to fell faster in Jumeirah Islands, Victory Heights, Arabian Ranches and Al Furjan, and slowed its decline in Jumeirah Golf Estates, the Meadows, Springs and Lakes, the report said.

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
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