Latest Dubai Real Estate News, October 2016

The real estate landscape is a hot topic in Dubai and throughout the UAE. We’ve rounded up some of the best articles on the topic over the past month for your reading pleasure. Enjoy!

Trade Arabia | Transparency rules 'key to Dubai real estate growth' (October 16, 2016)

Robust transparency rules are the key to maintaining momentum within Dubai's burgeoning real estate market, said an industry expert. Dubai's mission to maintain its international reputation as the most transparent and well regulated jurisdiction in the Middle East has recently been bolstered by the introduction of new rules around the advertising of property sales in the emirate...As per the new rule, all developers and estate agents looking to operate in Dubai will now be required to have all advertising approved by the emirate’s real estate regulator before such advertising is released into the media.  Read more…

Gulf News | It’s no longer about just locations in Dubai realty (October 13, 2016)

It is all part of a developing trend in Dubai’s real estate space — that of “localised price fluctuations within individual specific sub-market locations,” according to the latest update from CBRE, the consultancy. The “Dubai residential market continues to show signs of fragmentation, with individual sub-markets experiencing varying levels of performance. This polarisation is further reflected in the prevailing disconnect between the transactional market and the rental sector, underlining the different fundamentals driving each segment.”   Read more...

Emirates 24|7 | Dubai real estate broker required to verify ownership through smart app (September 26, 2016)

A recent circular has been distributed by the Real Estate Licensing Department of Dubai Land Department, outlining a new requirement for all real estate brokers operating in Dubai to verify real estate ownership data provided through the Dubai Brokers smart system. This circular has been issued as part of DLD’s on-going efforts to establish a framework which provides a safe environment for all parties in the real estate market, in order to preserve the rights of customers and investors. Read more…

Albawaba Business | Dubai’s softening real estate values open opportunities to get on property ladder (October 5, 2016)

The extent of decline in Dubai’s property values may be starting to convince more expatriate residents to opt to buy rather than stay on in rented premises. Over the 12 months ending Q3-16, locations with ready-to-buy apartments such as Dubai Marina, JBR, the Downtown as well as more affordable locations — International City and Discovery Gardens — have seen declines of between 2.4 per cent to under 4.5 per cent, according to the latest update from Cavendish Maxwell. And if one were to stretch the timeline from the end of Q2-14 to Q3-16, the decline would be 12 per cent, the consultancy adds.  Read more…

The National | Why now is the best time to buy a home in Dubai (September 30, 2016)

The best time to buy residential property is a couple of years after prices have peaked and the market has fallen but has now stabilised. Then you have the widest choice of units, little competition and can get the home you want for the lowest price, albeit you should also be able to see a catalyst on the horizon that will buck the whole market. That’s why it is time to buy in Dubai. The rot set into the market back in December 2013, when mortgage rules tightened and transaction costs doubled in a deliberate act to prevent a boom becoming a bubble like it did in 2007-08. Prices are down about 30 per cent according to the agents I’ve been talking to recently. Some talk about another 5 per cent to come by early next year, but basically the lion’s share of the price drops is done or over.  Read more…

The Asian Age | Dubai realtors build hopes on Indian buyers (September 23, 2016)

At a time when Indian developers are finding it tough to lure potential investors, real estate developers from Dubai — for the second time in a year — have decided to reach out Indian investors with offers of luxury villas and beach apartments in Dubai. Data obtained from the Dubai land department (DLD) reveals that in the first six months of 2016, 3,656 Indian buyers have invested around Rs 13,000 crore in the Gulf country’s real estate market.  Read more…

Is there any other Dubai Real Estate news that you’d include on our list? Let us know in the comments!

 

 

 

 

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