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Category Archives: Real Estate

dubai-real-estate-update-expatmoves

Dubai real estate transactions fall by more than 50%

The total number of property transactions in Dubai halved last month compared with a year earlier as the market slowdown continued.

According to the latest figures from the Dubai Land Department, the total number of transactions in the emirate plunged 51.8 per cent to 7,311 last month compared with April 2014.

The total value of transactions last month was Dh35.3 billion – down 37.1 per cent on the previous year.

Sales numbers in Dubai have been falling steadily since the end of last year after the Dubai government introduced tough new mortgage caps and higher transaction fees in an attempt to slow what had been one of the fastest rising housing markets in the world.

The fall in volumes was one factor that prompted the consultancy JLL and the ratings agency Standard & Poor’s to predict that average house prices in the emirate would fall by between 10 and 20 per cent this year.

And last month the Big Four accountancy firm Deloitte predicted average house prices in Dubai would fall between 1 and 5 per cent in the first half of 2015 before levelling off in the second half of the year. According to the property consultancy CBRE, average house prices in the emirate fell 2 per cent during the first three months of 2015.

“These figures come as no surprise although from the face of it they look quite dramatic,” said Craig Plumb, the head of research at JLL’s Dubai office. “A fall in volumes is a good leading indicator that prices will fall and we expect that to continue for the rest of this year. Last April the market was still booming, so any year-on-year figures will reflect that fact.”

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family-living-in-dubai-expatmoves

Family friendly living in Dubai – L J Hooker

The Greens :
A mid-rise residential complex, The Greens blends affordability with a new lifestyle choice. Combining tasteful design and fitted with the latest in modern conveniences, The Greens is designed to meet the needs of family.

Every home is set in a well-finished modern building with attractive green streetscapes and with lush landscapes set against an open pool. The apartments are set in modern buildings positioned to enclose a private courtyard for all residents to enjoy. Each complex of The Greens has a separate entrance lobby, secure underground parking, and gymnasium and shared barbeque facilities.

Each complex features four individual buildings clustered together to create an exclusive courtyard environment for the residents. Launched in June 2002, The Greens comprises 36 buildings set over 65 acres. The complex has 3,500 residential units and 4 office buildings
The Greens features studios, and one – to four-bedroom apartments, and are in close proximity to the Emirates Golf Club, Dubai Internet City and Dubai Media City.

The Views:
is an exclusive community strategically located on Dubai’s new growth corridor on Sheikh Zayed Road. Located adjacent to The Greens, with Dubai’s Internet and Media Cities, Dubai Marina, the American University, several golf clubs and numerous five-star beach hotels and restaurants all conveniently located just a few minutes drive away.

Overlooking waterways and the famous Emirates Golf Club, The Views is a vibrant community enjoying superb aspects. Exquisite Riviera style town houses and apartments are arranged amid landscaped gardens and, whether you choose riverside or club side, the emphasis is on living in a location which overflows with pleasant outlooks.

Designed as a master planned community, The Views will offer exclusive amenities for residents which includes landscaped swimming pools and decks, gymnasiums, mini sports courts, play areas, underground and covered parking, 24 hour secured community, barbecue areas, neighborhood shopping areas and parks with walkways.

Combining affordable prices with style and comfort, which characterizes all Emaar offerings, The Views will provide the perfect answer to the needs of first-time buyers, young families and single working professionals.

greenss

The Palms
Selling points of the area for new families moving in :
• Villa residents each have access to their very own long virgin white sanded beachfront. For any with NON MOTORISED boats, you can take your own canoe, kayak or pedalo out in the     waters and sail around to your hearts delight..superb calm and safe waters for all the family to swim in.
• 24 hour Security guard for all palm properties checking arrival of workmen, visitor, guests so very safe
• Atlantis has its very own Water park for kids AND adults as well as the Dolphin enclosure where they can go and meet the dolphins and snorkel with them
• 2.5 km special sports running track in the center of the Palm located within a small highly landscaped park area and accessible to all. There are outdoor gym machines as well as water      feature where kids are free to play in the water fountains as well as on the kiddie swings and playhouses….this is a great area to go cycling for all the family
• Boris Bikes found at various stages on the palm where you can pick up a hire bike and cycle around for just a few AED per hour ( same concept as the bike hire scheme in London)
• Huge selection of 5 star hotels each with superb watersports clubs where one can hire out windsurfers, paddleboards, canoes, kayaks and much much more.
• RIVA Beach Club found a Shoreline where anyone can join and become a member. This membership entitles one to a state of the art gym over 2 floors, superb beachclub with pool, pool      bar, restaurant and various cafes as well as access to the watersports hire area. This area is ONLY for members and not open to the public.
• Shortly at Palm Views just by the Marina Residences ( within 1 -2 months) will be the Palms very own FIRST yacht club opening where there will be the facility for all the family to get        involved in sailing classes and clubs as well as a fully licensed bar
• BID I BONDI is the number one SPORTS bar on The Palm for all those never wanting to miss a match! Adults only
• Pharmacy, Beauty Salons, Milk and Honey supermarket , Subway, Costa Coffee and a huge selection of restaurants and bars throughout the hotels on The Palm
• Metro along the length of The Palm with superb views for all the family and a lovely ride up to Atlantis

palms

The Meadows
LIFESTLYE
• Well established area with parks, lakes, community areas, schools, town centers, hospital, golf course, club house and hotel.
• Family friendly villas with big enough backyards.
• Easy access to all main roads, Sheikh Zayed, Al Khail
• Different types of villas and townhouse to choose from. You will find old style villas and new ones in and around the area.
• You can choose from The Meadows, The Lakes, Springs, Jumeirah Islands, Jumeirah Park and Jumeirah Village Triangle.
• The location of Emirates Living is still the best in Dubai.

REASONS WHY I WOULD BUY IN THE MEADOWS
• The choices you have. You have 9 different sectors to choose from. That is Meadows 1 to Meadows 9.
• Meadows 1-6 are the most desired purely because there are closer to the exits onto Sheikh Zayed and Al Khail.
• For an investor depending on the price you pay you can still get anywhere between 5-7% ROI.
• Prices for purchasing have steady over in the last 8months purely because there newer and better villas been built in and around the Meadows area. Jumeirah Park been the main one.        You can still buy 3bed for 4.6million depending on which Meadows it is in. 4 beds start from 5.2million and 5beds start from 5.8million.
• Location is still the major selling tool for Meadows. You can also still get some breathe taking views of golf course and lakes there also.
• Because it is well established it makes moving in much easier.

Visit our Website for further enquiries

affordable-housing-in-dubai-expatmoves

Affordable Housing – Harbor Real Estate

The call for affordable housing

Dubai developers had traditionally focused on projects catering to the upper income segments of society, with developments like Jumeirah islands, Emirates Hills and Palm Jumeirah as prime examples. This was the popular trend during the boom-time years leading up to the property market crash of 2008, with only a handful of projects like Dubai International City and Discovery Gardens in the picture which addressed the dire need for affordable housing.

In many cases, developers have misread the future segmentation of the Dubai real estate market.  Past performance or occurrences may not be a true indicator of future events; however, learning from the past can eliminate the repetition of mistakes.

Unfortunately, many developers have looked at property concepts and specifications that were historical successes, but failed to address the fundamental question of what will be needed in the future. As a result, the market in Dubai became somewhat “top-heavy” with offerings which only the upper middle class and wealthy could realistically afford. The results were predictable and, in many cases, people decided to reside in the more affordable emirates of Sharjah or Ajman.

As the economy of Dubai develops and grows, it will experience many changes in the various components that help make it function. One of these changes will be the composition of the population that provides the intellectual capital, expertise and manpower that, without which, the economy would stagnate or regress.

A natural occurrence within any economy that is growing rapidly and is formally recognized as maturing and transitioning from being a “frontier” to “emerging” market as Dubai did in 2013, is that its middle and lower middle income segments will expand to support the rapid rise in commercial activities and economic initiatives being instigated by entrepreneurs and corporate or government entities. This expansion is unavoidable if the economy is to grow. Some astute developers identified future opportunities to provide housing for this burgeoning segment while others chose to rely on old formulae.

A case in point, the World Expo is predicted by independent analysts to create over 270,000 jobs. The vast majority of these jobs will not be for people occupying senior executive positions. They will be for people in middle management or lower level positions, many of whom will have families and will naturally seek affordable accommodation.

The more astute developers have now awakened to the need and opportunities that affordable housing provides. Many have learnt that it is pointless building mansions if there is no one to occupy them.

They just become monuments.

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