Increasingly affordable property prices in Dubai are fueling significant growth in sales activity as residential values drop towards those last seen after the global economic crisis a decade ago.
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UAE Real Estate Markets in a Post-Covid World
“While we expect residential prices and rents to decline further over the second half of 2020 – a result of challenging economic conditions and a declining expatriate population – there are positives to draw from Q2 that will support Dubai’s residential sector moving forward,” says Chris Hobden, head of strategic consultancy at Chestertons MENA.
Real estate activity booms as Dubai property prices slip to near 2010 lows
New data suggests increasingly affordable property prices in Dubai are fueling significant growth in sales activity
Jointly Owned Property. Who Has The Final Say?
There has been a lot of recent discussion about the management of buildings and developments in Dubai and paying service charges during times when the common facilities in jointly owned property developments were closed due to social distancing rules. Homeowners are now taking a look at management operations of their building developments and how they can get involved in their community.
Bigger homes next trend in UAE as residents spend more time working from home
More residents are likely to choose home options that offer extra space – its need has become magnified after the experience of spending long hours and days in homes that suddenly seemed too cramped for their requirements.
Dubai Real Estate Sales Surge as Dollar Weakens
There is a renewed surge in Dubai property sales, particularly from overseas investors, mainly from the UK and European Union who are benefiting from the weak performance of the US dollar over the past four months, according to Devmark, a UAE-based real-estate consultancy and advisory firm.
Can Service Charges Be Reduced?
Service charges are the only rates that have remained intact through the property market downturn and the subsequent COVID-19 hit on income and activity. Now, property investors want some changes to services charges to reflect market realities.
Pandemic spurs Demand for Spacious Homes
The pandemic outbreak and the ensuing lockdown have started to influence lifestyle changes and real estate preferences, with buyers increasingly looking for spacious apartments or detached houses with gardens.
