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Tighter regulations lead to greater stability: Forbes

03.11.2014
Tighter regulations lead to greater stability: Forbes
Experts predict there will be a price correction in the next few months in areas that are overvalued as the UAE real estate market heads towards more stability. As a result of government-imposed regulations, oversupply is no longer a dire concern in the UAE and the luxury market has become much more sustainable, a Forbes article said.
“The UAE market is headed for broader stability. Over the next few months, there will be a correction in areas seen as overvalued while at the same time there will be pockets that will maintain their upwards climb,” said Haider Khan, CEO of UAE real estate portal Bayut.com.
Thanks to tighter regulations by the U.A.E. government and a more conservative business plan from property developers, the residential real estate market of Dubai in particular is becoming more stable. Although property prices skyrocketed 35% in 2013 and rang all sorts of alarm bells at the International Monetary Fund and World Bank, 2014 has seen Dubai real estate investors take their collective heads out of the clouds.
“Newly implemented regulations on loan concentration and real estate exposure for banks will help protect the soundness of the banking system, which has remained amply capitalized and liquid. The new loan concentration limits will help contain risks to banks’ balance sheets in the context of newly planned megaprojects,” said Harald Finger, IMF mission leader to the U.A.E.

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Call management
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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