Bullet-Point Property: Dubai No. 95
Almost 40,000 foreign investors spent US$ 29 billion of the US$ 77.6 billion in real estate transactions in Dubai during 2017
According to the Dubai Land Department (DLD), the top nationalities investing in Dubai property are Indians, Saudis, Britons, Americans and Pakistanis, with investors from China, Egypt, Lebanon and Jordan also increasing.
The attraction for these investors is high yields combined with growth within a secure tax-free market
The government have taken positive steps since the economy emerged from the global recession in 2008 to implement a wide range of legislation designed to protect, attract and retain overseas property investors. Read more here
This weeks property news and discussions:-
The launch of Emaar’s Marina Vista was the big news last week; the payment plan was a plus with 5% down followed by 7 x 5% every four months and then nothing to pay until completion in December 2021. Emaar is brilliant at pricing their apartments according to to the floor level, size and view so you can work out which apartments will have the best views by looking at the premium required for those units over comparable sizes and floor level. The majority of interest has been from investors looking for one beds, but they were expecting good views which rarely happens with a waterfront development as the best views are normally reserved for the two beds and above. One bed apartments with partial sea views in Marina Vista range from AED 1.3m to AED 1.5m; two beds range from AED 2.45m to AED 2.88m, and the three beds can be found at circa AED 4.2m with full sea views. There is a 4% DLD waiver if you book before the 13th Email me for more details
DP and Meraas, both government-owned, have joined forces and are launching the first freehold master-planned community in the heart of Jumeirah alongside the popular La Mer beachfront. Its called Port de La Mer and is based on a Mediterranean style seaside town set around a world-class Marina. We have 1, 2, 3 and 4-bedroom luxury apartments in low rise buildings on a private island all within 10 minutes of Downtown Dubai and the Financial Centre. The launch is scheduled for the 15th, andall we know today is that the prices will start at AED 1,800 per sq.ft. and the payment plan will be 40% by construction linked instalments and 60% on completion in December 2020. Email me for more details
There are many who commute to and from Abu Dhabi while their spouses work in Dubai, and perhaps their children attend school in either, so there is a demand for housing situated between the two cities. The Abu Dhabi and Dubai border is also a growing employment hub with the new Dubai airportand the expanding Industrial Parks on the doorstep. Al Ghadeer Village is on the Abu Dhabi side and is already a popular and established community located within 30 minutes of Dubai Marina, and the centre of Abu Dhabi can be reached in under an hour. Phase 2 is now launching, with studios starting at AED 370k, one beds at AED 480k, 2 bed townhouses at AED 1.005m and the three bed townhouses are at AED 1.2m all with a couple of payment plan options, and they are offering 3 years free of service charges – let me know if you want more details
Nshama has just released a new phase of townhouses named Sama in their popular Town Sq master development, some great prices for these three and four-bed homes starting at around AED 1.25m on an 80/20 payment plan with completion set for April 2021.
Emaar’s Summer offer of 50% payable over three years post-handover is valid until the 30th - still some good properties within the offer
The developer is offering to pay your DLD registration fees and pledge no service fees for ten years on their ready and nearly ready villas in Damac Hills