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More supply to weigh on Dubai house rents in Q1 of 2018

Posted by Seven Century on January 18, 2018

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During 2017, residential rents declined at a faster pace than prices, resulting in yield compression in most communities. Primarily, new project handovers have impacted rent performance. According to Property Monitor Supply Tracker, more than 13,800 apartments and over 7,800 villas/townhouses were handed over in Dubai during 2017. Rents for residential properties have also been impacted by sluggish business growth and the impact on jobs in the emirate. While certain sectors have downsized, resulting in job

Dubai to go all out for overseas buyers

Posted by Seven Century on January 16, 2018

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DUBAI: Dubai’s property market is to go all out chasing overseas investors. A series of roadshows will be held in key overseas markets — India, China, Russia and even the US — through the year to get these investors to sit up and take notice. The Dubai Land Department is putting its full weight behind the initiative. The first of these will be held closer to the UAE, through two-day events in Amman and Kuwait

Revealed: Dubai’s most expensive communities

Posted by Seven Century on January 15, 2018

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Downtown Dubai and the nearby Old Town community are the most expensive areas to rent and buy apartments, according to new research from Propertyfinder Group. According to the research, the most expensive area to buy an apartment is downtown Dubai, with an average price per square foot of AED 117 ($31), followed by Old Town at AED 115 ($31), The Views at AED 109 ($29), DIFC at AED 102 ($27) and Dubai Marina at AED

Dubai property sales up 6% by value in 2017

Posted by Seven Century on January 14, 2018

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Dubai Land Department has announced a 6 per cent increase in the value of real estate transactions conducted in 2017 compared to the previous year, despite a wider downturn in the market. The department said Dhs285bn ($77.59bn) of real estate deals were carried out last year across 69,000 transactions. This compared to Dhs268.7bn ($73.1bn) of transactions in 2016 and was also up 4 per cent on 2015 when the total value of deals was Dhs275.8bn

Dubai property absorbs Dh285 billion in 2017

Posted by Seven Century on January 11, 2018

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Dubai registered 69,000 real estate transactions exceeding Dh285 billion in 2017, according to the Dubai Land Department (DLD). This compares to property transactions worth Dh259 billion entered through 41,776 deals in 2016. The rise in transactional volumes and value was owing to the boom in demand for off-plan properties in 2017. Sultan Butti bin Mejren, director-general of DLD, said: “The figures for total transactions, including sales, mortgages and others, confirm the current strength of the