For the Week ended September 4, 2016
Dubai house prices move into positive territory for first time in two years: http://www.thenational.ae/business/property/dubai-house-prices-move-into-positive-territory-for-first-time-in-two-years
Sheikh Mohammed launches ‘city of the future’ with Jumeirah Central: http://www.emirates247.com/news/sheikh-mohammed-launches-city-of-the-future-with-jumeirah-central-2016-09-03-1.640169
Right time to go shopping for villas in Dubai: report: http://gulfnews.com/business/property/right-time-to-go-shopping-for-villas-in-dubai-report-1.1889415
From exclusion to action: making housing affordable: http://www.gnproperty.com/a/real-estate-news/exclusion-action-making-housing-affordable/
The UAE’s steadfast move up the global rankings: http://gulfnews.com/business/analysis/the-uae-s-steadfast-move-up-the-global-rankings-1.1885849
Pakistanis homing in on Dubai properties with surge in investment: http://www.emirates247.com/news/pakistanis-homing-in-on-dubai-properties-with-surge-in-investment-2016-08-30-1.640070
UAE cities draw ultra-rich GCC real estate investors: http://www.khaleejtimes.com/business/real-estate/uae-cities-draw-ultra-rich-gcc-real-estate-investors
Dubai tenants prefer Marina, JBR: http://www.khaleejtimes.com/business/real-estate/20160903/7275/no-title
Dubai rents fall less than expected in first half as delivery of new homes slows: http://www.thenational.ae/business/property/dubai-rents-fall-less-than-expected-in-first-half-as-delivery-of-new-homes-slows
Dubai’s rental declines are limited to the high-end: http://gulfnews.com/business/property/dubai-s-rental-declines-are-limited-to-the-high-end-1.1886510
UK investors said to delay Dubai property deals post Brexit: http://www.arabianbusiness.com/uk-investors-said-delay-dubai-property-deals-post-brexit-643855.html#.V8R9yJh97IU
Dubai’s DIFC sees workforce rise above 21,000 in H1: http://www.arabianbusiness.com/dubai-s-difc-sees-workforce-rise-above-21-000-in-h1-644173.html#.V8ccJph97IU
Education has the makings of being prime realty play: http://gulfnews.com/business/property/education-has-the-makings-of-being-prime-realty-play-1.1888362
Dubailand gets more affordable townhouses: http://www.khaleejtimes.com/business/real-estate/dubailand-gets-more-affordable-townhouses
Jumeirah Golf Estates sees good demand for townhouses: http://www.khaleejtimes.com/business/real-estate/jumeirah-golf-estates-sees-good-demand-for-townhouses
Wasl launches new mixed-use project in Bur Dubai: http://tradearabia.com/news/CONS_312578.html
Bloom to showcase landmark Dubai projects: http://tradearabia.com/news/CONS_312831.html
Bloom Heights in Jumeirah Village Circle unveiled: http://www.khaleejtimes.com/20160903/8897/no-title
Nakheel reveals more details of its Dh7.5 billion Jebel Ali Gardens community: http://www.emirates247.com/news/nakheel-reveals-more-details-of-its-dh7-5-billion-jebel-ali-gardens-community-2016-09-03-1.640167
Townhouses up for sale in Green Community Motor City: http://www.khaleejtimes.com/business/real-estate/townhouses-up-for-sale-in-green-community-motor-city
Nakheel continues Dh16 billion retail expansion with Nad Al Sheba mall: http://www.khaleejtimes.com/business/nakheel-continues-dh16-billion-retail-expansion-with-nad-al-sheba-mall
Seven Tides to showcase British-themed hotel: http://tradearabia.com/news/CONS_312825.html
Deyaar starts work on Dubai hotel project: http://tradearabia.com/news/CONS_312792.html
Dubai office rents most expensive in Mena: http://www.khaleejtimes.com/business/real-estate/dubai-office-rents-most-expensive-in-mena
Nakheel and Hilton to build new hotel at Jumeirah Village Triangle: http://7days.ae/nakheel-hilton-build-new-hotel-jumeirah-village-triangle/91920
According to REIDIN, the average sales price for apartments dropped in July 2016 by 0.2% MoM and 2.4% YoY to AED 1,302 per square feet. When compared to previous peak of October 2014 (AED 1,495 per sq. ft.), apartment price is 12.9% below this level. For Dubai-Villa in July 2016, the sales price has declined by 0.6% MoM and 3.9% YoY to AED 1,295 per square feet. Compared to previous peak price of October 2014 (AED 1,455 per sq. ft.), current villa price is 11.0% below this level.
According to REIDIN, the average rent price for apartments decreased in July 2016 by 0.6% MoM and by 3.0% YoY to AED 8.13 per square feet. For Dubai-Villa in July 2016, the rent price has dropped by 0.5% MoM and 5.8% YoY to AED 6.05 per square feet.
The Gross Yield for Dubai apartments according to REIDIN depicted a slight decline in July 2016. As of July 2016 REIDIN data, the Gross Yields for apartments and villas are 7.75% and 5.75%, respectively. The same time last year, the Gross Yield for apartments and villas stood at 7.81% and 5.88%, respectively. The historical high for apartments was 9.47% in March 2009 and 7.05% for villas in December 2010.
The Price to Rent ratios (PRR) for Dubai apartments witnessed a minor increase in July 2016. The PRR for villas stand at 17.78 years as compared to 16.92 years at the end of 2015. Likewise, the PRR for apartments comes to 13.35 years as against 13.08 years at December 2015.
It’s no secret that Dubai offers rental yields as high as 10% in some residential localities and the average percentage being at 7% also gets a commendable investor interest in the market. While people can benefit from the said yields by buying apartments in specific location and placing them on rents, they can only reap their rewards once a year since rents are paid annually in Dubai. But here is another way that can allow you to reap those rewards on monthly, weekly or even daily basis, and you don’t even have to own a property in Dubai to do that.
Centurion Real Estate Brokers 