Logo
  • Order call
  • Call management

Property type
No. of bedrooms
Area
Show offers

Discounts, bonuses, easy payment plans flooded Dubai housing market

07.06.2020
Discounts, bonuses, easy payment plans flooded Dubai housing market
Dubai's real estate market offers real estate buyers and investors great discounts today.

While tenants rule the rental segment of the Dubai’s real estate market, the sales market today is focused solely on buyers’ needs. Developers make it easier to get to new and more profitable opportunities for rental returns from real estate investments in the off-plan, as well as in secondary units, with flexible payment terms, affordable prices, bonuses and discounts. At least this is the common opinion of most of the industry experts in Dubai.

Jason Hayes, the head of one of Dubai’s largest real estate companies, says buyers are in the best position today, as sellers in need for sale seek to please buyers in all possible ways, and are eager for almost any bargain.

“Buyers of real estate in the emirate today can easily get a discount of 10-20 percent from the asking price. For example, recently, a villa on Pearl Jumeirah, listed originally at AED20 million, was eventually sold with a 15 percent discount. But this is still quite consistent with the level of discounts observed at the beginning of the year,” Hayes revealed.

He also stressed that the ability to conduct transactions remotely, which the Dubai Land Department recently presented to all participants in the emirate’s housing market, helped buyers and sellers step back on the sales ladder again, without violating the rules of social distancing, and without having to make flights from other countries that are not yet possible.

Abundant offers

Experts from the CORE consultancy pointed out that there are currently many new best ever opportunities for real estate investments in the Dubai real estate sales market, as in new buildings (off-plan), and in the ready units as well. At the same time, payment plans and installments schedule from the developers also strike buyers with their generosity.

“As a rule, investors’ main preferences in housing are for studios and one or two bedroom apartments, since historically these units provided higher returns. However, under current conditions, most buyers have taken a wait and see attitude. At the same time, some of them defer their decision because of their own financial COVID-19-related problems caused by a general slowdown in business activity, a reduction in salaries and jobs losses,” CORE’s analysts commented.

Currently, it is recommended to pay attention to the finished and tenanted properties for sale in the well-managed communities in central areas with the best infrastructure.

“These facilities have all the necessary conditions,” experts underline.

In times of crisis, there are always a lot of new opportunities for those who have free finances and courage to take advantage of the situation.

Even before the Covid-19 situation in Dubai, there was a real surge in buyer activity and transactions. Both, home buyers and investors have realized that investing in real estate in the UAE now is especially beneficial, especially when we talk of the secondary market. For example, today a house in a well-proven villa community can cost you 40 percent cheaper than five years ago. And surely, in the nearest future, investors will be especially interested in this particular property category. This trend became obvious already at the end of April 2020, when several major luxury villa sale transactions worth tens of millions of the UAE dirhams were concluded in Dubai.

It should also be noted that real estate prices in the UAE as a whole are gradually decreasing, so you should not expect that the average real estate prices will fall sharply in the short term, experts suggest.

Lewis Allsopp, CEO of Allsopp & Allsopp, also offers investors who are cautious about off-plan deals due to their potential uncertainty, to better look for attractive options in the secondary market.

“In Downtown Dubai there are plenty of properties for investors offering up to 7.5 per cent of ROI. Taking to account that the average ROI is 4–5 per cent for Downtown Dubai, which is rather high level when compared to other global centers, the above mentioned options offer 50 per cent more profit,” explained Allsopp.

However, when considering such extremely advantageous offers, you should pay extra attention to what is said in a contract and take into account all the slightest nuances.

Today in Dubai, developers such as Signature, Ellington and Vincitore can guarantee their customers rental income of 8% per annum for a certain period of time. Besides, each developer has its own way of honoring the guarantee, which also depends on the payment plan chosen by the buyer.

To always stay up to date with the latest analytics data and real estate prices in Dubai, subscribe to our newsletter using the form below. Our contacts:

Tel. in Dubai, UAE: +971 (50) 2528188 (Whatsapp, Viber, Telegram)

Toll Free Dubai: 800-IMEX (800-4639)

IMEX REAL ESTATE BROKER LLC, UAE

Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE

Email: pm@IMEXre.com

Latest Availability
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 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