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Dubai beats Asian rivals in global property rankings

Shane McGinley Arabian Business 03.02.2012
Dubai beats Asian rivals in global property rankings

Dubai has become a much more attractive investment location than some of its more high profile Asian rivals, according to a new global survey.

Mumbai big-ticket property market sluggish

An estimated Rs 7,800-crore (Rs 78 billion) of big-ticket property deals sought to be put through in this city by companies and government bodies in Mumbai haven't been moving forward.

Inheritance laws in UAE remain unclear

Manoj Nair Gulf News 27.01.2012
For want of legal precedents, real estate investors are sceptical whether property ownership rights will pass smoothly on to their rightful heirs as named in the will.

Dubai: While the UAE waits for stability in its real estate marketplace, there are a few ambiguities that property investors are still living with. One concern that is yet to be resolved relates to the status of such assets upon an investor's demise.

Skyscrapers stand on the skyline viewed from the Central Market in Abu Dhabi

Oil-rich Abu Dhabi saw more than AED42.9bn ($11.68bn) in property transactions last year, the emirate’s municipality said on Wednesday.

Union move lifts property in UAE

The National 23.01.2012
Union move lifts property in UAE

Property and construction stocks edged the Dubai Financial Market (DFM) higher yesterday after Union Properties replaced a key executive.

New supply continues to put downward pressure on Dubai house prices

Although residential property prices are rising slightly in certain areas of Dubai, most neighbourhoods are still seeing price declines as new supply continues to impact the market, according to two recent reports.

Only investors with properties worth Dh1 million or more will be eligible for the visa. (FILE)

The UAE announcement of an extension of real estate investor visas from six months to three years has suddenly increased the number of properties worth Dh1 million, according to a new report.

Property investors can access banking services through international bank accounts (FILE)

Details surrounding the new three-year real estate visa announced by the UAE government last week are flying in thick and fast.

Mumbai family refusing to budge for “Trump Tower” property development

An Indian family in Mumbai is refusing to move from their home to clear the way for a luxury property tower to be built by Donald Trump.

Property stocks drag down UAE indexes

Abu Dhabi's Aldar Properties drags down the emirate's index after Moody's cut its credit rating by two notches and Kuwait slips in muted trade. The developer falls 3.7 percent.

Figures reveal over 200 cancelled property projects in Dubai

Over 200 real estate projects in Dubai have been cancelled in the last two years as the emirate’s real estate sector slumped as a result of the global economic downturn, official figures show.

Dubai prices keep falling

Hopes that political turmoil in the Middle East might boost the property market in Dubai have faded as the latest real estate report shows that prices are still falling.

Property buyers face improper fees

The National 02.06.2011
Property buyers face improper fees

Developers in Dubai are routinely overcharging home buyers thousands of dirhams in registration fees and for service charges, property experts say. The practice is "massively widespread", said Michael Lunjevich, a partner in the law firm Hadef & Partners.

New code for Dubai property market to increase transparency

A new code for corporate governance in Dubai's real estate market is being put together in a bid to improve the property market’s transparency, it has been confirmed.

Dubai property market is improving

Dubai property prices are falling at a slower pace and in some parts of the emirate are even showing further signs of stabilisation, according to the Asteco Q1 2011 report.

Dubai has the worst housing market in the world according to Knight Frank.

Over the past six months, the desperately tumultuous housing markets of Greece, Spain and Portugal have all successfully surpassed Dubai’s rock bottom real estate sector, according to a survey published by property consultancy Knight Frank.

Dubai Continues Building on Lower Construction Prices

Chris Hartley Financial Feed 25.02.2011
From the end of last year onwards, we have seen a definite increase in interest from overseas clients. (FILE)

Overseas investors are looking to invest in Dubai’s residential and industrial property sector once again, according to Landmark Properties. Michael Michael, Director of Sales at Landmark Properties, said: “From the end of last year onwards, we have seen a definite increase in interest from overseas clients. Such investors are mainly from countries within the GCC or Eastern Europe, indicating a growing sentiment that Dubai’s property market is now offering investors greater value for money”.

Values of construction and real estate in Dubai have fallen over 60%.

Dubai’s property market collapse has not stopped developers from continuing with construction instead of dealing with legal obligation to give advance payments back to customers. Also, construction sites are active because of a drop in construction costs by 40%. So, projects are being completed at the lowest cost instead of waiting for upturn.

 
New property index shows mixed outlook for Abu Dhabi

Cluttons has launched its Abu Dhabi Property Index, which helps benchmark property values in the Emirate, and shows that apartment and villa sales in Abu Dhabi have fallen in Q4 2010

 
 

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