Bullet-Point Property: Dubai No. 50
Did you know that 80 percent of the Dubai population live in rented accommodation - apparently that makes Dubai one of the largest rental marketplaces in the world?
Did you also know that Dubai tenants sign12-month tenancy contracts and pay in advance for the entire year via one to four post-dated cheques?
We help investors source and purchase the best off-plan "Buy to Let" properties,and we also handle the snagging, handover and subsequent rental of your new apartment or house.
Another busy week in the world of Dubai property.
- I recently attended the handover ceremony for the first homes in Town Square, and they exceeded expectations regarding the quality of finish and the neighbourhood look and feel. Yesterday, the same developer introduced the first "co-living and co-working concept" in Dubai and it'sfirmly aimed at a much younger audience than myself. Residents of these small but perfectly designed studios and one-bedroom apartments will have access to 2,000 sq..m. of digitised all-purpose lobby lounge, a reading area, meeting rooms, entertainment & recreation areas, business centre, swimming pool, gymnasium, retail stores, restaurants, cafes, a supermarket, laundry & cleaning services, landscaped areas, and outdoor recreational facilities. This has to be a winner with one beds selling for as low as AED 530k; I expect annual yields may very well reach over 10%
- Many people are asking about Dubai South where the government is creating a new city in which a million people are expected to live and work. It will include the world's largest airport, the Expo 2020 site, a commercial and logistics district, a business park and golf community and not forgetting the retail and residential area. You can find studios in the areastarting as low as AED 280k. However, the latest to be sold are the Park Lane Residences where one beds start at AED 540k, two beds at AED 820k on a 30% during construction and 70% on handover in 2020.
- You have to agree that I am consistent in my enthusiasm for particular developers and I am pleased to inform you that the company behind Belgravia and Eaton Place will be launching their next building in JVC very soon. Expect well designed, high quality and affordable studios and one-bedroom apartments in a mid-rise building combined with much demand from investors, end users and tenants plus high yields and therefore fast sales. If you are interested in knowing more, then please send me an email here
- October is almost over however my Property of the Month - Wilton Terraces 1 – will remain for a little longer to be at the top of my recommendations of "Buy to Let" apartments selling for between AED 1m and 1.5m
- And now for something completely different – The fantastic Alef Residences serviced by W Dubai on the Palm Jumeirah. I revisited the site for the first time in 18 months to tour their new show apartment. A stunning example of design, quality and location combined with the most incredible views of the sea, palm and the Dubai Skyline. There is very little available throughout the city that compares to this level of luxury, and it is nothing less than you would expect at the price. The project is close to completion and is a most fabulous example of a Dubai developer delivering what they promised at the beginning. 7,000 sq. ft. apartments start at AED 15,750,000
- Please take a look at some properties offered by our clients
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For a more detailed discussion or to meet me in Dubai, please call or email and I will be sure to respond as soon possible.