Bullet-Point Property: Dubai No. 89

Dubai has been named as the world's fifth most expensive city for Airbnb listings.

I am helping an ever-increasing number of overseas residents’ source and purchase property in Dubai that they plan to rent out on a short-termrental/holiday let basis. These clients want a place in Dubai which they can use when in town but then make money when the property is not required.

I have heard it said that over 80% of Dubai residents live in rented accommodation, so the demand for the traditional long-term rental model is high. However, we have new people arriving daily who are unable to sign the standard year-long tenancy contract until their work and resident’s visa process has been completed hence the popularity of serviced apartments and privately owned short-term rental properties throughout the city.

Tourists, business people and temporary contract workers plus those new arrivals who need or want to avoid expensive hotels are the target market for short-termrental property, and the demand is growing rapidly.

As an overseas-based owner, it would be almost impossible to manage the property yourself, and we are seeing more new companies arrive in the market offering a full menu of management options to help owners rent via the online accommodation portals. read more here

This week’s property discussions have included the following: -

  • The Arabian Ranches 5-year post-handover payment Summer offer will end on the 31st July, but the developer's Summer Offer on their other projects continue until the 31st August with 50% off registration fees and a 3-yearpost-handover payment plan. 

 

  • There has been a further release of the popular apartments in The Collective at Dubai Hills Estate with one beds starting at AED 690k on a standard payment plan and the two beds at AED 1m on a three-year post-handover payment plan. read more here

 

  • Damac hasn't had a new launch for months so it will be interesting to see how sales go with their new Reva Heights project in Business Bay when its launched later this week. The published price will be from AED 801k which will certainly attract interest as its low for a one bed in the area, however, the apartments are very small by Dubai standards at just 474 sq. ft. including the balcony and the price per sq.ft. of AED 1,700 is high especially as its off-plan and won't be ready for at least 2 or 3 years. Call or email me so we can discuss the pros and cons of this new project

 

  • It’s rare to find plots of land for sale where you can design and build your own home and even fewer that are located close to the city centre within an exclusive villa and golf community. Only a limited collection of plots are available in the Dubai Hills Estate, where you will have the choice between different architectural styles to make your home truly personal. See the brochure here

 

 

 

  • MAG5 Boulevard in Dubai South has been quite heavily marketed overseas, and I have received calls from clients who are considering this as a holiday home. WARNING - this is not suitable as a holiday home however it is, in my opinion, an excellent buy to let investment for those looking for above average yields and capital growth. It ticks so many boxes and will be one of the first developments to complete within the Dubai South Master-plan, home of Expo 2020, and located close to the new International airport. The prices are low, it’s a self-contained gated community, the developer has a good reputation, and the project is on time with handovers commencing in a few months through to the middle of 2019. The two bedroom apartments of around 1,000 sq.ft and from AED 703k are some of the cheapest two beds in all of Dubai. Email me for a project overview

 

PropertySteven Leckieproperty investment in Dubai, property prices, off plan property, buy property in Dubai, property trends Dubai, property in Dubai, UAE propertyComment