PropertyePortal

Dream Of A Home In The Burj Khalifa? It Is Not That Hard, Say Analysts Properties in the world’s tallest tower present excellent opportunities for investors. Owning a dream home in the iconic Burj Khalifa is much more accessible to more people now. According to Knight Frank, the average price per square foot in the  Burj Khalifa  was Dh2,301 ($626), a great entry point for investors around the world looking to invest in luxury property. The Burj Khalifa is not just any skyscraper, it is pushing the boundaries of architecture representing pioneering innovation and illustrates the pride of Dubai. “Since 2014, prices have softened across the market, as a result Dubai compared to other global cities, offers relative affordability,” said Taimur Khan, Knight Frank’s head of research in the Middle East. “For global investors looking to broaden their property portfolio, Dubai is certainly becoming a consideration given this relative affordability, quality of product and D...

How Dubai Can Solve Its Affordable Housing Dilemma Senior advisor to the Dubai’s Real Estate Regulatory Agency urges inclusionary zoning, land subsidies and tax breaks El Burai noted that a lack of affordable housing in Dubai is a key barrier to the city achieving its sustainable development objectives and happiness agenda. Dubai needs to put housing at the centre of land use plans and provide incentives to developers, such as inclusionary zoning, land subsidies and tax breaks, to boost affordable supply, according to a senior advisor to the emirate’s Real Estate Regulatory Agency (RERA). In an article written for the World Economic Forum,  Mahmoud Hesham El Burai , aso chairman of the Middle East Sustainable Development Institute, said the city needs to reconsider its supply-led demand approach, which focuses on attracting international buyers, who are mainly speculators. El Burai said currently the private sector does not have the tools or interest to develop affordab...

Buying Property With Post-Handover Payment Plan In UAE? What Overseas Buyers Need To Know While generous post-handover payment plans of up to ten years from real estate developers have provided an important resource for many residents who had been priced out of Dubai’s property market, these schemes have also opened an avenue for overseas buyers to consider investing in Dubai real estate. “The post-handover plans are best suited for both end users and overseas investors as the buyers don’t have to put all the money at once, which gives them the leverage to buy a bigger property as the payment is spread for a few years,” says Riyaz Merchant, CEO of Realty Force. With property prices at their most affordable, combined with sweet deals from developers, it is definitely the best time to consider property investment options in Dubai. “For the investor, a post-handover plan becomes a compulsory saving, as part of the rent is used to cover the purchase price,” says Merchant. “So the buy...

Villa Sales Prices Declined In Dubai In March Villa sales prices in Dubai declined in March, according to a new Dubai House Price Index published by Cavendish Maxwell. According to the statistics, the average annual house price in Dubai fell by 12 percent in March. Some communities – including Arabian Ranches, Dubai Sports City, Dubai Silicon Oasis and Jumeirah Islands – were found to have registered price declines of more than 12 percent. Month-on-month, the price decline for March was 1.7 percent compared to 1.8 percent in February. House prices in the first three months up to March were 5.1 percent lower than in the previous quarter. Overall, the average house price in Dubai decreased to under AED 2.6 million. Additionally, while the rate of off-plan apartment transfer was found to remain high, the total volume of residential transactions in Q1 was 3 percent lower than the same period in 2018. At the same time, the volume of apartment transfers over Q1 2019 fell almost 14 ...

Dubai’s Economic Growth Will Accelerate In 2019 And 2020 Government initiatives continue to support economic expansion in the emirate Dubai’s economic growth will accelerate in 2019 and 2020, with tourism, logistics, transport, wholesale and retail sectors replacing the real estate as main growth driver next year, official data showed. Data released by Dubai Economy on Sunday showed that Dubai’s GDP grew 1.94 per cent last year but it will pick up to 2.1 per cent this year and 3.8 per cent next year before easing to 2.8 per cent in 2021. The emirate’s economy will continue to rely on real estate as its main growth driver at 3.65 per cent for 2019 followed by 3.1 per cent for logistics and transport; 2.8 per cent growth in tourism; 2.4 per cent in financial services and 1.9 per cent in wholesale and retail trade. But as tourists will flock into the emirate next year for Expo 2020, tourism sector will overtake real estate to become a top growth driver of the economy followed by l...

Where To Buy Property In Dubai? So you’ve figured out the reasons for buying  property in Dubai . But one thing still remains, Where do you actually buy that property ? Since buying a property is a big investment, choosing the right property can become a reason of worry for many. Well, you don’t have to worry anymore. We are here to help you. We will take you through the best areas for buying property in Dubai. Let’s take a look at the top 5 most popular areas to invest:- Dubai Marina – It doesn’t come as a surprise that  Dubai Marina  has taken the top spot in this list. The property offers a mix of high rise apartments, pavilion villas to go along with the plethora of retail and dining outlets present. With projects such as  Bluewaters Island  launched by  MERAAS  in the area, it also signals the trust that big developers are putting in the area. With the asking prices in the area remaining stable, the future seems to be shining bright for those...

After a while the same old becomes tedious and you need some new and fresh in your life. Here are some tried and tested tips that are bound to bring new color into your home:   Add some new throw pillows: Or better yet, just change the covers of existing throw pillows. adding a different color, print or introducing a new shape of pillow on your couch can make your living room feel like a new space.   Invite nature inside: This could mean introducing a potted plant or experimenting with jute, hemp or seagrass (Think hemp basket). Just a little bit of nature will give your home a raw, natural feel and is sure to imbue your life with energy.   Reupholster your furniture: This will bring about a big change in your home. Experiment with eclectic prints and colors, add geometric prints and mirrors in the right places to shake things up.   Tidy up! This is a no-brainer. Sometimes you don’t need new, you just need new locations for old things. (Think smart storage...

Small apartment? Don’t despair! What small apartment lack in space, they make up for in lower rent, being close to bustling downtown areas and a cozy charm.  Of course,  that depend on your interior decorating skills. We are here to help you with just that. Read on to find out more. Many people fret about the fact that living in a smaller space means you must give up on style, but this couldn’t be further from the truth.    Rather, it’s finding the right balance between the two is critically important to creating a space that you’ll be comfortable living in for the foreseeable future. You need to focus on filling your home with items that fit your needs while highlighting your personal style. Follow these decorating tips that ensure that you make the most of the space you have while still letting your personality come through.    1. A place for everything and everything in its place   Don’t limit yourself to an open plan when decorating a...