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UAE Dubai Property News
UAE and Dubai Property News
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Demand rises for Dubai villas as rents get cheaper |
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Written by Administrator
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Tuesday, 22 June 2010 14:33 |
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Villas in Dubai are garnering an increased demand from potential tenants as rentals grow to be economical. "Villa leases are looking very engaging at the moment. With an extra supply of villas to enter Dubai, rentals are anticipated to decline though at a slow pace," stated Mohanad Alwadiya, Managing Director, Harbor Real Estate. Based on Harbor Real Estate, an estimated 3 to 4 villas are prone to enter Dubai by the end of the year. "This might trigger a 10 per cent additional decline in villa rents. Nevertheless, villas are sturdy assets for Dubai and demand for villas is all the time likely to be larger than residences," he said."If there's any correction in rental charges for villas it is just as a result of it is a natural market situation." Kosta Giannopoulos, Manager-Residential Sales & Leasing, Better Homes, mentioned: "It's troublesome to quantify how much further villa rentals will decline but due to the improve in provide because of the handover of more tasks equivalent to Shorooq, Layan, Jumeirah Village, The Villa, Cedre Villas, and many others and the stagnation of demand, we might anticipate continued downward pressure on rents." Meanwhile, some new villa rental offerings in Sharjah have been priced very reasonable, thereby garnering a whole lot of interest from potential tenants. A brand new four-bedroom 'Al Riffa villas' in Sharjah is at the moment 'asking' a hire in the vary of Dh100,000 each year to Dh105,000 each year, the developer of the project said. |
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Last Updated on Tuesday, 22 June 2010 14:33 |
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Demand rises for Dubai villas as rents get cheaper
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Surplus residential units in Dubai may hit 31,000 by year-end |
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Written by Administrator
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Wednesday, 12 August 2009 16:49 |
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Dubai is likely to see a surplus of 31,000 residential units mainly due to the decline in the expatriate population, while the shortage of units in Abu Dhabi will rise to 28,000 by year-end, according to JP Morgan.
"In the short term, we expect the non-residential sector in the UAE to remain under pressure given the global financial crisis. However, the historical shortage of both retail and commercial space in Abu Dhabi has kept falls in leasing rates well below Dubai," the investment bank said in a report on Mena real estate.
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Last Updated on Wednesday, 12 August 2009 16:50 |
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Read more... [Surplus residential units in Dubai may hit 31,000 by year-end]
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You need to login or register to post comments. Discuss this item on the forums. (5 posts)
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#8545 |
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Surplus residential units in Dubai may hit 31,000 by year-end
Aug 18 2010 18:50:37
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#8549 |
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Paid-up investors take on Dubai Properties over Business Bay |
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Written by Administrator
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Wednesday, 12 August 2009 05:04 |
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Dubai Properties has become embroiled in a row with investors surrounding a Dh3 billion (US$817 million) development, after demanding final payment before the project was ready to hand over.
The dispute involves the Executive Towers development at Business Bay, a collection of 11 high-rise buildings containing more than 2,200 luxury apartments.
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Last Updated on Wednesday, 12 August 2009 05:09 |
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Read more... [Paid-up investors take on Dubai Properties over Business Bay]
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You need to login or register to post comments. Discuss this item on the forums. (4 posts)
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Paid-up investors take on Dubai Properties over Business Bay
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Paid-up investors take on Dubai Properties over Business Bay
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Paid-up investors take on Dubai Properties over Business Bay
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Ajman realty regulator cracks the whip |
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Written by Administrator
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Wednesday, 12 August 2009 04:57 |
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Developers in Ajman will not be allowed to arbitrarily cancel any sales and purchase agreements (SPAs) and will have to seek permission from the Ajman Real Estate Regulatory Agency (Arra), its chief told Emirates Business. "No developer is authorised to cancel any agreement unless they get approval from us. We are monitoring the situation and are allowing investors time to fulfil their commitments," said Omar Al Barguthi, Director-General, Arra. |
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Last Updated on Wednesday, 12 August 2009 04:57 |
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Read more... [Ajman realty regulator cracks the whip]
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Ajman realty regulator cracks the whip
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#5084 |
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No distress sales at Dubai property auction |
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Written by Administrator
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Wednesday, 12 August 2009 04:49 |
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Even though auction agencies across the world have revealed a significant rise in the number of distressed sales in auction rooms, none of the properties that have been auctioned so far in Dubai come from distressed sellers. As a result, none of the sellers, who have auctioned their property in the city, have taken a cut. |
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Last Updated on Wednesday, 12 August 2009 04:49 |
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Read more... [No distress sales at Dubai property auction]
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You need to login or register to post comments. Discuss this item on the forums. (85 posts)
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