26th June 2018

Off plan sale transactions for villas have overtaken secondary market sales for the first time in since February 2018.

Apartment off-plan transactions still remain stronger than secondary sales for apartments.  Off-plan sales for apartments have transacted more than secondary sales since October 2016.

The future is looking a little brighter with a few new law changes, such as 10-year visas for investors, 100% ownership of companies in all areas of Dubai and finally the much needed slow down of off-plan developments being released onto the market.

The rental market still remains steady with the majority of leases from current residents moving to take advantage of lower prices for better areas/buildings than they currently are leasing.

Landlords are now negotiating and willing to accept lower rents.  Returns still remain above 5% net to Landlords which is very competitive with other Cities around the World.

We will continue to see reductions in both sale and leasing prices as the market will receive a total of 264,809 apartments, 56,974 villas, 15,387 townhouses and 29,829 commercial properties over the coming 2-3 years.

2017 only saw 20,121 apartments, 7,347 villas, 1,996 townhouses and 681 commercial properties handed over.

If you are looking to sell, buy, lease or rent a property please reply to this email

Have a great week.

Laura Adams, Managing Director, Carlton Real Estate.

(data compiled by Laura Adams, provided by propertymonitor.ae)

The figures are obtained from the Dubai Land Department via propertymonitor.ae and show Aqood Registrations (off plan) and sales transfers (secondary market).  Please refer to the graphs below.

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