Published on Wednesday, September 16th, 2009
Dubai’s property market was a star that shone brightly right up until the back end of 2007 when the rug was pulled so sharply from beneath it that it collapsed in spectacular fashion. Property prices are reported to have almost halved last year, to have fallen by a further 41% during the first quarter of 2009 and perhaps now, according to a new price index report from Knight Frank, the bottom of the crash is about to appear.
According to the global estate agency, Dubai’s property prices have ‘only’ fallen by about 7.5% in the second quarter of 2009 – and so with this in mind, should investors begin to take note and re-examine the offerings in Dubai’s real estate marketplace?
In this report we’re going to look into the viability of an investment made into property in Dubai. We’ll examine whether there are fundamentals that will support the market’s recovery, what is in place to prevent such a collapse happening again, whether there are finance methods appropriate for would-be investors, and what sort of overall investment approach one should use if one wants to enter the market in Dubai.
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Published on Monday, May 25th, 2009
Conservative estimates put the amount of money hanging in the balance in Dubai’s property scandal at around one billion pounds. This is the figure that investors have already allegedly committed to property schemes and ventures that have yet to come to fruition, with one fifth of this sum already having been paid out to potentially less than scrupulous developers.
But in terms of the billion pound Dubai property scandal, who is actually to blame? Was it the greedy speculators who bought and flipped and pushed the value of property through the roof, was it the over ambitious developers, or perhaps we should actually be blaming the government for failing to put adequate controls in place to prevent the boom and subsequent bust?
In this report into the billion pound property scandal we look at who’s to blame in the latest disaster story emerging from Dubai…
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Published on Tuesday, May 05th, 2009
Dubai has issued new rules related to the issuance of visas to homeowners in the emirate, but many feel that they are not flexible enough, they are too restrictive and they are not good enough to kick start the real estate market’s positive movement once again.
The rules relate to which homeowners can have multiple entry visas into the emirate based on the fact that they have freehold rights to their property. They have been long awaited and certainly expected, but most homeowners, property developers and real estate agents all agree that the rules fall very short of what was expected.
The government in Dubai has taken its time to offer this solution to property buyers, and in the meantime, during Dubai’s boom years, most people bought homes confident that their permission to reside in the emirate was assured. Now that the visa rules have been issued, most are saying that they fall very far short of what was expected, others are saying that quite simply, the new visa rules for property owners in Dubai aren’t good enough.
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Published on Friday, January 23rd, 2009
Wouldn’t it be amazing to be able to turn the clock back a few years, and with hindsight snap up any property you could get your hands on in Dubai. The property market in the emirate is so immature that it wasn’t even really in existence ten years ago! Ten years ago you couldn’t buy freehold property for example, but then back in 2002 His Highness Sheikh Mohammad bin Rashid Al Maktoum decreed that foreigners would be allowed the right to buy freehold real estate within certain developments and from certain developers.
Initially prices were low, yet the building standards, the vision for Dubai, the personification of luxury that the emirate seems to embody and the rapid population and wealth growth of Dubai meant that prices skyrocketed. They doubled and even tripled in 12 month periods and climbed and climbed until property per square meter in Dubai became some of the most expensive in the world.
‘If only we’d bought back then’ – isn’t that a common thought? Well, the absolutely fantastic news for those who failed to buy in time to ride the wave of Dubai’s success is that they are being given a second chance. Property for sale in Dubai is now for sale at heavily discounted prices. The only thing is, you wouldn’t think so to look at the advertised prices. So, here’s what you need to know to get your hands on low priced property stock.
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Published on Wednesday, January 07th, 2009
As you might expect in a market as diverse and exciting as Dubai’s property landscape, there are some seriously influential and big name players developing homes and commercial premises for sale and to let in the emirate.
In this article we’ll take a look at the leading Dubai property developers so that if you are in the market for a home you will know where to head for reputation and standing.
We cannot of course vouch for the financial liquidity of any of the companies we review, nor do we have any opinion about which companies are better than others. This article is simply an introduction and open review of some of the largest companies currently developing beautiful and iconic property in Dubai.
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There’s no getting away from this international ‘credit crisis’ is there? And in our opinion this widely used term is actually being used to describe a global recession! Who would have thought that the once impenetrably successful emirate of Dubai could be affected by anything like a downturn in its property or jobs market – but as the evil tentacles of financial meltdown creep ever closer to the Middle Eastern region now too, so Dubai property prices are falling fast as the credit crisis leaves its mark!
Yesterday we touched on the fact that there is apparently growing unease in Dubai about the state of the jobs market, but we showed how this negative overview of the emirate’s employment landscape is actually inaccurate. Today we could be saying the very same thing about the city’s property market – because there are mixed views in the media about which way Dubai’s property market is going to go.
