Real Estate News in Dubai and the UAE – January 2015

We regularly publish curated real estate news in Dubai from other publications in and outside the UAE. We focus on industry news, real estate market and rent behavior.

UAE property market ‘booming’ despite challenges – Trade Arabia (January 5th, 2015)

The country’s banks remain generally sound and profitable, although Tasweek cautions that the gross loans/deposit ratio is nearing 100 per cent, thus indicating more limited room for growth.

According to Tasweek, the domestic population remains on track to hit 18.83 million in 2023 from around 9.9 million in 2014-end to further stretch market demand.

Tasweek affirms a positive correlation between this growth rate and the increase in new UAE real estate projects. Moreover, government measures to dampen speculative activities in real estate and better control credit growth have further streamlined industry, it added.

Property markets in #Dubai and #AbuDhabi set for a stable 2015PropertyWire (January 9th, 2015)

Property prices in Abu Dhabi are expected to see a gradual increase in 2015 but not on the scale that was seen in 2104, it is claimed.

Leading property firm Cluttons believes there is still some great investor appetite in Abu Dhabi and predicts that new residential schemes will still be popular.

It also expects that there will be more off-plan housing launches this year, from the leading firms such as Aldar and TDIC as well as some private developers.

Proposal to ensure affordable housing in #Dubai under review – Gulfnews (January 11th, 2015)

Dubai: A proposal to ensure enough affordable housing for ‘mixed-income’ people (low to middle-income) between the labour-class and luxury market is under review, a senior official said.

If made law, the proposal will not only provide more economic stability, but also reduce traffic jams, said Abdullah Rafia, acting director-general for engineering and planning, Dubai Municipality.

Dubai developer targets Dh9k-Dh15k earnersEmirates 24/7 (January 12th, 2015)

Dubai developers are turning their attention to ‘affordable’ housing in 2015, with Dubai Properties (DP), the development arm of Dubai Properties Group (DPG), joining the bandwagon.

The developer will be selling units in Remraam project in Dubailand to individuals earning salaries of between Dh9,000 and Dh15,000 per month, with unit prices starting Dh400,000.

Expecting your #Dubai villa rent to rise? What 2015 Rera index says Emirates 24/7 (Jan. 13th, 2015)

The first Dubai rent index update of 2015 saw apartment rents going up by 6 to 25 per cent across various freehold communities, but that’s not the case with the villa segment.

Lease rates have remained stable across freehold villa communities, a comparison by ‘Emirates24|7’ of 2015’s first rent index update against 2014’s last index figures reveals.

Rents in the Springs community has seen no rental increase with rents for two-, three- and four-bed dwellings remaining at Dh120,000 to Dh135,000 per annum (pa); Dh180,000 to Dh200,000 and Dh200,000 to Dh250,000 pa, respectively.

#Dubai residential prices continue to fall in Q4 – Arabian Business (January 17th, 2015)

Residential prices for both apartments and villas in Dubai fell during the fourth quarter of 2014 compared to the previous quarter, according to a new report by Phidar Advisory.

Its Q4 research note also showed that office lease rates in the emirate remained relatively unchanged in the three months to December 31.

The report said apartment lease rates remained stable with a nominal increase of 0.4 percent, while sale prices decreased 3.6 percent, pushing yields up slightly.

#Dubai’s Property Market Will Be Driven By Homeowners says #Emaar executiveGulf Business  (Jan. 20th, 2015)

Dubai’s real estate market will see a rise in home-owners and a shift towards affordable housing, according to Mohamed Alabbar, chairman of developer Emaar.

In his exclusive 2015 Gulf Business Power Letter, Alabbar stressed that the emirate’s property market was seeing interest from a different set of investors.

“With growth powered by the massive preparations to host the World Expo 2020 and the positive performance of Dubai’s diversified business sectors, demand for owned homes to live in, from a larger segment of the population, will gain traction,” he wrote.

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Real Estate News in Dubai and the UAE - January 2015
Expecting Your Dubai Villa Rent To Rise in 2015? Read what RERA index says this year and more news on real estate in Dubai and the UAE.

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