Villas in Dubai now offer a new alternative to Dubai Hotels

Rent Villas in Dubai have become a in style alternative to Dubai hotels that offer a only one of its kind lodging for families as well as business gatherings, exhibitions and events of weddings. The most admired villas are found on the impressive Palm Jumeirah, Dubai’s artificial island designed in the form of a palm tree and now being known as the 8th wonder of the World. This amazing island offers guests effortless admittance to magnificent resorts with top-notch health clubs and spas, in addition to quality supermarkets. The Palm resort is situated at its crescent, with the ever admired AquaVenture Waterpark, with its waterslide and Dolphin Bay, where guests can enjoy company of these beautiful and gentle creatures. It also provides a close immediacy to the Jumeirah Beach area as well as the Dubai Marina.

Rent villas in Dubai, ranging from 3 beds to Luxury 6 bedroom properties, include some of the best of city center living including many with beach front locations. They offer time alone and isolation, providing a miraculous flee for those who prefer to be away from the crowds.

Out of vast variety of lavish Dubai Apartments want to catch the attention of those who long for waterfront living and the class and comfort it brings. And as one of the most ingenious and sophisticated Dubai properties to come into development, Dubai Marina will without doubt not let down those who try to find a luxurious lifestyle near the waters. Indeed, each residence is provided with unrestricted views across the marina; pair this with fresh sea gentle wind, and your waterfront way of life will certainly be dream come true.

Dubai Marina is also in close proximity of Emaar Business Park and Jebel Ali Free Zone, where commerce leaders meet for business or socialize over a cup of coffee or a cold brew. The property features a pathway that interconnects the many structures, gardens, and waterfronts in the marina. This opens up means of activities for residents to engage in. For instance, you can take a casual stroll around the property; go fishing, yachting, and engage in many other water activities.

Some Developments in Dubai’s Property Sector

According to estimates by a leading property consultancy firm, the sale prices of offices, flats and apartments in Dubai will continue their fall through the first quarter of 2010, mainly because of the excess of supply over demand. It is further estimated that apartment prices are set to take the biggest hit with a decline as much as 20 percent predicted during the next 18 months.


The firm noted that following the increase seen during the third quarter of 2009, the once promising villa prices also remained largely stagnated in Dubai with a marginal increase of 0.2 percent during the last quarter of 2009.


As for the prices of apartments, these dropped 4.3 percent in the last quarter of 2009, following the 3 percent decline in the third quarter. Moreover sale and leasing transactions in the commercial sector also remained low during fourth quarter 2009, with an average decline of 5.1 percent in sale prices, while the average office rents declined 8.4 percent.


The report predicted that average rents in Dubai are likely to fall, as there is an excess of residential units at a time when demand is fundamentally weak.

Another new trend being witnessed is that Dubai developers are considering renting out their new units on furnished basis. This helps generate immediate revenue for them, rather than having buildings without tenants. Moreover the furnished apartments have a higher rental value due to availability of conveniences such as bedroom, furniture and kitchen appliances and the higher investment made in them.

Real estate agents state that the rentals for furnished apartments are 10 to 20 percent higher on average as compared to unfurnished apartments. Given the current situation in Dubai Real Estate market, several investors have started to look at acquiring furnished apartments for short-term rentals. Many estimate that several individual units will be converted into furnished apartments this year.

Presently, rents for furnished apartments are falling in the range between Dhs. 5,500 and Dhs. 8,500 per month. There is also wide consensus that furnished residential property will generate a 15 to 20 percent premium over a typical unfurnished property. As an example, a furnished single bedroom shoreline apartment at the Palm Jumeirah should normally fetch Dh. 150,000 per year by way of rent, while a similar unfurnished apartment should generate about Dh. 120,000 per year.

Meanwhile another advisory firm has remarked in its report for the fourth quarter of 2009 that the selling rates of Dubai’s housing units are slowly approaching their intrinsic value, which shows that the real estate market is beginning to settle down. As a result of this, we might see slight corrections every quarter, but no major changes from current levels.

Better Homes has grown from a one-woman enterprise in 1986 into a company comprising over 400 employees, providing a wide range of property services including short stays, residential and commercial sales and leasing, property management, project sales and marketing across the UAE. Whether you want commercial Dubai accommodation such as a Dubai warehouse, a Dubai office or villas in Dubai for living or for investment, we can accommodate your needs. Please contact Better Homes for a quote today.

Property Market in Post Recession World

In the secondary market, where properties are most vulnerable to the economic downturn because they are bought and sold before construction is completed, prices had fallen by 15 per cent to as much as 50 per cent in certain areas, brokers said.

“Most of the people in Abu Dhabi are offering properties at their original price now,” said Amer Saeed, a property consultant at the Abu Dhabi branch of the broker Re/Max.

“It ranges now between Dh1,100 (US$299) and Dh1,200 per square foot on Al Reem Island and Al Raha Beach, which are the main areas where foreigners can buy.

“But some people are selling below the original price. You can find a property for Dh1,000 per sq ft.”

The global economic crisis triggered a sharp reversal in property markets all over the world. Gulf countries, where prices had been rising rapidly last year, were particularly affected.

While the Abu Dhabi market has softened, it has fared better than other parts of the Gulf. In Dubai, apartment prices fell by 39 per cent in the first quarter of this year from the last quarter of last year, although they are stabilising in the most established communities, the consulting firm Asteco said.

Some analysts point to Abu Dhabi as among the region’s most promising markets. Investor sentiment is rising, partly because the level of speculative investment in the region’s markets has subsided, according to Jones Lang LaSalle’s Second Investor Sentiment Survey, a study of property professionals’ market views.

Abu Dhabi would be the stand-out market for property investors, said the report conducted in association with Cityscape.

“That investors are returning to investment fundamentals such as focusing on yield is a welcome finding, as is the suggestion that there is, at last, an end in sight to the current turmoil,” said Ian Ohan, the head of Middle East and North Africa (MENA) investment transactions at Jones Lang LaSalle, said.

“With Abu Dhabi and Saudi Arabia suggested as the hot spots for investors in the coming years, the MENA region looks set to grow in significance even further.”

The price declines in Abu Dhabi’s secondary market had helped spur sales activity, brokers said, with the number of transactions climbing last month compared with February.

Rental hikes capped at 20%

The maximum a landlord can hike rent is 20 per cent, according to an important clause in the new decree issued by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and ruler of Dubai.
Using a series of "mini rent caps" through a rent slab, the index prevents rent from rising too high.

For example, if the rent is 36 per cent to 45 per cent below the average market rate for properties with similar specifications in similar areas, the rent can only be increased by a maximum of 10 per cent, according to the decree.

If the rent is equal to or up to 25 per cent less than the average market rate for properties with similar specifications in similar areas, then there will be no increase in rent.

However, it is worth noting that the index was compiled using figures from the second half of 2008, and since then, rents have dropped much further. The index states that the average rent for a two-bed apartment in Mirdif falls somewhere between Dh120,000 to Dh130,000.

But currently, tenants in two-bed apartments in Mirdif are paying around Dh90,000.
Marwan Bin Galita, chief executive of Real Estate Regulatory Authority (Rera) has been very clear when saying the rental index should only be used as a guideline, with plans to update it every six months. With the decree now in effect, however, it is even more important that Rera keeps a closer eye on rental rates across Dubai, especially as they are set to fall further in 2009.

For this reason, some industry experts say the rental index should be updated regularly.

"It may be wise to update the rental index on a weekly basis as the market rates are still fluctuating - a rent cap at this stage may be slightly premature," Ryan Mahoney, managing director of Better Homes, added.

Rera issued a statement yesterday saying there will be no increase in rent for new contracts signed in 2008 for residential and non-residential properties.

However, the rent will neither have increased nor decreased as it is a new contract.
"There will be absolutely no increase in property rent values for new residential or non-residential tenancy contracts signed for the first time in 2008. Any contract that was renewed in 2008 is subject to increase," Rera said in a statement to media.
Interestingly, according to Rera's website, 3,400 people, around 85.8 per cent of those polled, say there should be a rent cap law in Dubai.

• 27,000 homes delivered in Dubai in 2008
• 32,000 homes to be delivered in Dubai this year
• 30,000 families moved into freehold homes in Dubai so far
• 1.6m Dubai population in 2008

Source: Gulf News

Rental hikes capped at 20%

The maximum a landlord can hike rent is 20 per cent, according to an important clause in the new decree issued by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and ruler of Dubai.
Using a series of "mini rent caps" through a rent slab, the index prevents rent from rising too high.
For example, if the rent is 36 per cent to 45 per cent below the average market rate for properties with similar specifications in similar areas, the rent can only be increased by a maximum of 10 per cent, according to the decree.
If the rent is equal to or up to 25 per cent less than the average market rate for properties with similar specifications in similar areas, then there will be no increase in rent.
However, it is worth noting that the index was compiled using figures from the second half of 2008, and since then, rents have dropped much further. The index states that the average rent for a two-bed apartment in Mirdif falls somewhere between Dh120,000 to Dh130,000.
But currently, tenants in two-bed apartments in Mirdif are paying around Dh90,000.
Marwan Bin Galita, chief executive of Real Estate Regulatory Authority (Rera) has been very clear when saying the rental index should only be used as a guideline, with plans to update it every six months. With the decree now in effect, however, it is even more important that Rera keeps a closer eye on rental rates across Dubai, especially as they are set to fall further in 2009.
For this reason, some industry experts say the rental index should be updated regularly.
"It may be wise to update the rental index on a weekly basis as the market rates are still fluctuating - a rent cap at this stage may be slightly premature," Ryan Mahoney, managing director of Better Homes, added.
Rera issued a statement yesterday saying there will be no increase in rent for new contracts signed in 2008 for residential and non-residential properties.
However, the rent will neither have increased nor decreased as it is a new contract.
"There will be absolutely no increase in property rent values for new residential or non-residential tenancy contracts signed for the first time in 2008. Any contract that was renewed in 2008 is subject to increase," Rera said in a statement to media.
Interestingly, according to Rera's website, 3,400 people, around 85.8 per cent of those polled, say there should be a rent cap law in Dubai.
• 27,000 homes delivered in Dubai in 2008
• 32,000 homes to be delivered in Dubai this year
• 30,000 families moved into freehold homes in Dubai so far
• 1.6m Dubai population in 2008

Source: Gulf News

To Buy or Not To Buy? – Dubai Property Concerns

It’s not a baffling question for just the permanent residents of Dubai. With the continuous and rapid surge in Dubai’s population, a substantial proportion of which consists of expats and temporary residents living in Dubai for employment reasons, the question of buying or renting a residential property in Dubai is the talk of the day.

Both the potential tenants and home buyers may be troubled by the question. But still reports on Dubai real estate say that the changing picture of global financial markets shouldn’t deter the locals from buying Dubai property if their plan is to stay there over the couple of years. As for those who plan to stay in Dubai for more than five years, buying a property ‘now’ can prove to be the wisest decision they ever made given the prices of Dubai real estate climbing higher and higher with each passing year.

But the option of buying real estate in Dubai doesn’t suit everyone. Most of the younger expatriates are not financially sound, so in order to qualify for a mortgage they need stable jobs with sufficient salary. There’s no certain criterion for the assessment of one’s financial situation – it’s rather a self-assessment process.

Borrowing can be a not-so-good idea if you are in Dubai for a longer period than five years. A wise act should then be to sit and calculate the total rent you’ll pay during your long-term stay and compare it with the current price of the mortgage. At the end of the day, you may find out buying to be a far wiser choice than renting.

The Trust of investors in Dubai real estate

In the last couple of years, the property market of Dubai has been hugely profitable and firm enough to get international and local investors’ trust and confidence on account of the execution of laws focused at assuring attentions of virtually anyone connected to the real estate business. This is one of the major causes why people from all over the world are coming in Dubai to invest in property market. The spread of international chains and business that are setting up all over Dubai make the emirate a true symbol of a global village.

Dubai Residential Property - Apartments in Dubai

As mentioned previously, due to the influx of foreign nationals into Dubai over the course of the past decade, the demand for residential property is on the increase. Many foreign nationals have turned to purchasing and owing apartments for residential purposes.

Generally speaking, even rather luxurious apartments can be purchased in Dubai for comparatively reasonably prices. For example, a person generally can make the purchase of an apartment in Dubai that would cost considerably more for a comparable unit in many other countries around the world.