Category: UAE

Dubai Real Estate Market Outlook 2020: A Complete Overview

Posted on by Marcus Sohlberg — 12 Comments

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Do you plan to buy property in Dubai?
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Dubai is the Middle East’s equivalent to Hong Kong and relies less on oil production compared to neighboring countries. It’s been a hot-spot for overseas investors and the real estate market grew remarkably throughout the 2000’s.

Having said that, Dubai’s property market has not performed that well in the past years. There are plenty of reasons for this.

If you plan to buy real estate in Dubai, you must know how healthy the market is and what you can expect for the coming year. In this article, we review how the market has behaved in previous years, presenting data and statistics, and share what we expect for 2020.

Dubai’s Property Market in Previous Years

The market has been turbulent since mid-2013 and had some of its worst years in 2015 – 2016, when real estate prices declined significantly. The market has been in a recovery mode in 2017 – 2018.

Prices and rents didn’t fall as much during these years compared to previous years. For example, the average sales price decreased by around 5.6% in 2017 according to Savills, while the average rents fell by 7%. Continue reading Dubai Real Estate Market Outlook 2020: A Complete Overview

Investing in Dubai Commercial Property: Foreign Buyer’s Guide

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Dubai is undoubtedly the most popular city among travelers, entrepreneurs, and expats in the Middle East.

It’s made a remarkable transformation over the decades with an economy that currently only relies 5% on oil exports. Nowadays, tourism, trade, real estate, and financial services play a vital role here instead.

In the past years, the government has rolled out a number of foreign-friendly policies in the past years. Foreigners can apply for long term visas, own freehold property, fully own businesses in Free Zones, and more.

Not surprisingly, many locals and foreigners look towards Dubai’s commercial property sector.

In this article, you’ll learn the following:

  • Can foreigners buy commercial property in Dubai?
  • What are the benefits and disadvantages?
  • Where can I buy commercial property in Dubai?
  • Freehold vs Leasehold
  • What are the most popular areas to buy commercial property?
  • Buying Hotels in Dubai
  • Buying Residential Buildings
  • Buying Office Space in Dubai
  • Commercial Property Taxes & Fees

Continue reading Investing in Dubai Commercial Property: Foreign Buyer’s Guide

Top 12 Property Management Companies in Dubai: A Complete List

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Being one of the most prosperous and appealing cities in the Middle East, foreigners are moving to Dubai in vast numbers.

Even if renting property is a preferred choice among foreigners, it’s not optimal if you plan to stay long term. In fact, property prices are relatively low compared to the obscure rents that can be found in many places.

If you plan to buy a property in Dubai, you might need someone to look after it for you. Don’t worry, there are plenty of property management companies to choose from.

In this article, I’ve listed some of the biggest and most popular property management companies in Dubai. Continue reading Top 12 Property Management Companies in Dubai: A Complete List

Buying Property in Dubai as a Foreigner: The Definitive Guide

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Do you plan to buy property in Dubai?
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Dubai has opened up to foreign property buyers since 2002 and the property market has boomed since.

It previously had almost 25% of all the cranes in the world, during its boom years, which is kind of amazing. Having an economy that relies only 6% on oil exports, Dubai continues to be one of the most sought after places in the Middle East.

Not to forget, it’s one of the most business-friendly countries in the Middle East and grows with a rate of around 4%, which is not bad.

Yet, before you buy property in Dubai, it’s important that you get your feet wet first and learn about local regulations. In this article, I cover most of the key information when you buy property in Dubai as a foreigner.

Can foreigners buy property in Dubai?

Since the Dubai government introduced new ownership regulations in 2002, it’s become remarkably easier to buy and own property as a foreigner.

Many say that Dubai is the easiest country to do business and to invest in real estate in the MENA region, something that probably doesn’t surprise you.

In total, you have three different property types available, that I want to present first:

  • Freehold properties (Musataha)
  • Long term leasehold (Usufruct)
  • Strata-titled properties (Commonhold)

Continue reading Buying Property in Dubai as a Foreigner: The Definitive Guide

The 8 Best Areas to Buy Real Estate in Dubai: A Complete Overview

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Dubai is a sought-after place when foreigners and expats move overseas. With a population that consists of 85% foreigners, property is fairly cheap and rents are high.

If you stay in Dubai long term, I’d advise you to look around for potential property investments.

However, even if Dubai is fairly small, it’s important that you do research well in advance, to know which areas that suit you the most. Might it be a villa located in a calmer area or a high-rise apartment with a nice water view?

In this article, I list some of the most interesting areas you should have a look at.

1. Downtown Dubai

downtown-dubai

If you’re standing right at the bottom of Burj Khalifa, the world’s tallest tower, you’re in Downtown Dubai. The area is among the most expensive areas in Dubai, known for its high-rise buildings and upscale community.

Continue reading The 8 Best Areas to Buy Real Estate in Dubai: A Complete Overview

Top 10 Real Estate Agencies in Dubai: The Ultimate Guide

Posted on by Marcus Sohlberg — 17 Comments

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Buying property in Dubai is straightforward in comparison to many other countries in the Middle East and developing countries in Asia. You’ll find plenty of local and foreign-owned agencies that helps many foreigners daily.

Yet, you rarely come across websites that share summarized information about these companies. Therefore, I wrote this article, where I list some of the top agents that operate in Dubai. Let’s have a look.

1. Allsopp & Allsopp

Allsopp & Allsopp established in Dubai in 2008, within a decade, they evolved to become one of the best real estate agencies in Dubai..

They’re currently considered as a market leader and had the highest amount of sales in 2017. The company ranks as the number one company in terms of sales transfers, according to the Dubai Land Department.

Continue reading Top 10 Real Estate Agencies in Dubai: The Ultimate Guide

Top 10 Property Developers in Dubai: The Ultimate Guide

Posted on by Marcus Sohlberg — 2 Comments

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Do you plan to buy property in Dubai?
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Dubai’s property market is one of Asia’s most volatile and we’ve seen many ups-and-downs since the early 2000’s. In 2002, the government introduced new property regulations making it remarkably easier for foreigners to invest in property.

The market exploded and in 2006 almost 25% of all cranes in the world were allocated to Dubai for construction purposes. Just a couple of years later, Dubai took a hard hit from the subprime crisis and local expats with heavy debt burdens even fled the city.

Selecting a credible developer with sound financial results and a proven track record couldn’t be more important in such a volatile and competitive market.

Dubai is the home of hundreds of developers where the biggest mostly operate in multiple industries, are backed by large conglomerates, or founded by wealthy locals.

You must do a thorough background-search about each developer, before you commit to an investment. To give you a helping hand, I’ve written this article where I list some of the biggest property developers in Dubai.

1. Deyaar

Deyaar was founded in 2002 and has emerged as one of the leading property development companies in the last decade. Deyaar offers its services under four different business units that include: Continue reading Top 10 Property Developers in Dubai: The Ultimate Guide