Talk to the UAE’s best mortgage advisor
We can help with all of your home loans and commercial finance needs
The Realty deal in Major cities:
Under Valued
Chicago
Fairly Valued
Dubai,
Boston,
Singapore, ,
Milan
Over Valued
London, Tokyo,
Geneva,
Sydney,
Moscow,
New York
Bubble Risk
Frankfurt,
Paris,
Amsterdam,
Zurich
Reflecting increased activity in the realty sector, the latest data released as per DLD are—
1. Monthly Rise in real estate transaction: 15.6%
2. 3927 Sale Transactions
3. AED 7.6 billion worth of transactions
4. 38.2% of Transactions were offplan
5. 61.8% were on secondary market
“November 2020 transactions were 15.6 per cent more than October in terms of volume and almost 10 per cent more in terms of value.” Said Latifa Ibrahim Ahmed, Senior Director of Real Estate Studies and Research dept, Dubai Land Department . Luxury Apartment Sale in mid of December to January (Last week) has been the highest in the past 16 months. It clearly reflects about the luxury end of the market, that how buyers choose Dubai. The UAE’s real estate industry last week registered improvements in global property consultant and investment manager JLL’s Global Real Estate Transparency Index (GRETI). It is a useful indicator of a city’s overall ‘Real estate investment health’.
As Per the Dubai land Development (DLD) records, A total of 5,246 Indian invested in property market followed by
5172 Emiratis. Saudi at 2198, Chinese at 2096 followed by the UK with 2088. Pakistan at 1913 while Egypt at 955, Jordan at 855 while the US at 682 and Canada at 678. This country’s investment value:
Indians: AED 10.89 billion
British: AED 3.97 billion
French: AED 1.1 billion
Initiatives, such as the introduction of online property transfers from Dubai Land Department or the UAE Central Bank’s economic stimulus package, of favourable payment options from developers have supported the market. Moreover, during pandemic property valuations are much attractive while, cost of related funds is at the lowest. Now, we must think of Project wise choices, Seven Palms & Gold View seven city attracted 195 nationals last month. Across 63 countries, Russians topping the bill covering 18% of sales in Dubai in a single project of seven palms followed by the British with 9% and French at 8%.
‘Seven Palm’ Project in term of values:
1. Russian: $125m in sales
2. British: $63m in sales
3. French: $56m in sales
Another Project of ‘Golf Views Seven City’ attracted more expats, where French buyers top the rank with 25% of sales, Italians are 2nd with 12% of sales, Russians at 11% and Indians on 4th rank with 6% of sales. As per the CEO of these projects- “The economic impact of COVID-19 in Europe is likely to encourage buyers to look overseas.” Moreover, in UK & Europe, Governments look to reduce public finance deficits after much borrowing to tackle the pandemic. So, most of the investors there fear higher income and property tax rates. This also raises the hope for even further investment next year.