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'Increased supply to cause drop in rents'

18.12.2014
'Increased supply to cause drop in rents'
Over 20,000 new units are expected to enter the market during the course of the next 12 months which could have a deflationary impact on sales and rental rates. With at least 20,000 new residential units likely to be added to the existing supply of houses in Dubai in 2015, CBRE, a global real estate consultancy, believes the supply could have a deflationary impact on sales and rental rates, Emirates 24/7 reported.
“The residential segment has experienced a period of relative stability during H2 2014, with rental rates remaining broadly flat. Over 20,000 new units are expected to enter the market during the course of the next 12 months which could have a deflationary impact on sales and rental rates,” Mat Green, Head of Research and Consultancy UAE, CBRE Middle East, said in a new report.
The good news, however, is that overall rents in Dubai remained 'broadly flat' in 2014, registering only a 7% increase compared with a 24% rise in 2013.
“Over the past 12 months the sales segment has comprehensively outperformed the rental market, recording an 18 per cent growth year-on-year as compared to 30 per cent in 2013.  This disconnect is highlighted as a potential area of concern for the market, with mounting pressures on rental yields as a result,” Green said.

Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 AED/ft2
SALE
6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 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