Selling your property is an exciting experience and a highly-profile assignment in a massive market, as Dubai features. It is also a legal transaction best managed by professionals.
Applying for our team assistance you’ll be appointed a single point-of-contact throughout your sale and to give a flavour of what happens, here are general outlines of selling process.
To begin with, it’s necessary to set the right price for your property. A seller might determine it by himself or book market appraisal.
Keeping abreast with the reasons influencing Dubai’s real estate secondary market our agents will qualify your property, advise achievable price and offer selling strategy.
A real estate agent would provide an estimated selling price, that: is reasonable; takes into account the sales prices for the most comparable properties to yours located nearby.
Before buying real estate in Dubai, you will have to decide how exactly you are going to use it. If you are buying property for personal use, you should consider your individual needs and preferences, as well as the presence of a traffic intersection and a relevant social infrastructure.
If, however, you are buying property for its subsequent lease (both temporary and year-round), you will have to conduct a much deeper analysis.
When buying a rental property, it is primarily important to focus on the preferences of your potential tenants.
This relates not only to the district and residence selection, but also to the number of bedrooms, the presence of nearby schools, children’s institutions, and so on.
Important: When selecting a particular type of real estate for lease, it is crucial to first and foremost focus on the interests and needs of the tenants. Even if the nominal payback indicators of private houses are going to be higher, what would be the sense in buying one if it’s going to stay empty?
According to the rental property market analysis for the last 6 months of 2019, one-bedroom apartments were the most popular option among potential tenants. This trend has a simple explanation: Dubai has a huge number of foreigners and young couples living and working in it, who don’t yet physically need large apartments with several bedrooms or luxury villas.
At the same time, relatively small studio apartments, even despite their affordability and compactness, are gradually becoming less popular. This trend is largely related to the general drop in real estate prices over the last 2 years. Now, even tenants with a limited budget can afford to rent a somewhat comfortable and spacious lodging. Besides, the difference between monthly prices on studios and one-bedroom apartments isn’t as substantial anymore.
Considering the location, the more popular and profitable are traditionally the central city districts:
Two-bedroom and three-bedroom apartments together make the second most popular option among tenants. In most cases, apartments with two and more bedrooms are rented by families with children. Such tenants consider the location of schools and hospitals the key priority.
Despite the popularity of city apartments, country villa rental in Dubai is still relevant. Throughout 2019, three-bedroom villas boasted the highest demand. Such houses were most frequently rented in Arabian Ranches, Town Square by NSHAMA, Villanova by Dubai Properties, Serenia The Palm and Meraas Cherrywoods.
Need to Know: Villas with four and five bedrooms are rented much less frequently. But even they have their own connoisseurs. The most advantageous locations for such large buildings are Dubai Hills Estate by Emaar Properties and DAMAC Hills.
Villas with two and three bedrooms are the most popular ones. Such houses are frequently selected by friends or colleagues that feel comfortable living together or families with kids.
It has to be noted that the rental profitable of a house with one or two bedrooms is virtually identical, while the payback on a three-bedroom villa is almost 12% higher compared to options with one or two bedrooms.
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