How to buy luxury villas in Dubai?

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Buying property in international destination like Dubai is not a new trend. It has become fad to invest for long term over there. Dubai is synonymous with magnificent projects, high rise towers, worth seeing shopping malls and mega developments that have gained international fame due to its unique architectural features. Even though nowadays Dubai real estate is not having the same charm but still expatriates, foreigners and inhabitants want to capture the status of owning the property in Dubai. They all have hopes that it will regain its regime once again.

One of the very popular property segment in which many real estate brokers get inselling of luxury villas in Dubaiselling of luxury villas in Dubaivolve to make handsome commission is the selling of luxury villas in Dubai. It is a lucrative option to buy ready to move in luxury villas in an ideal environment with millions invested.

There are numerous options available in this type of property and a variety of architectural feats such as city luxury villas to beach front villas and luxury villas in different communities. Buying property in Dubai is not restricted to a particular social class or any specific genre but this property type becomes a little bit unaffordable for average income people. Many people have shown their interest and due to variety and availability of these villas many celebrities from different fields have already occupied places in different locations of Dubai.

Villas in Dubai

Villas in Dubai

Different kinds of villas in Dubai

There are different kinds of villas available in Dubai with multitudes of facilities like swimming pools, Jacuzzis, lawns, gardens and driveways. In recent times, the construction pattern is little bit changed and private pools are replaced by community swimming pools and podiums. Luxury villas that are fully furnished are in more demand as compared to unfurnished ones. The only problem is that most of the times furnished villas are only available for rent in Dubai and not for selling purpose. You can also go for the gated community option that offers different facilities along with good security.

Developers understand the growing demand of people in Dubai residential areas therefore they are trying hard to meet their needs. Whether you are looking to buy a luxury villa or get one on rent, you have numerous options out of which you can choose and contact the real estate agent to make deal on your behalf.

Performance highlights of Office market in Dubai

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If you stay at the top of the Dubai real estate news, you might now that the residential sector in Dubai has clearly outperformed its office sector through out all the consecutive quarters of 2018. Those, who are satisfied about the current performance of Dubai real estate and predicting better times ahead, should not forget the root cause of real estate collapse in Dubai.

Lack of business opportunities brought the once spectacular Dubai real estate sector to death. The overall real estate market will remain poor unless government creates better employment opportunities in Dubai. The office market seems to be in pressure in Dubai, which clearly shows that the problem of unemployment still exists in the economy.

Office market in Dubai

Office market in Dubai

Though office rents in Dubai remained static through out all the quarters in 2018, yet the new office space constantly being added in the market is preventing the sector to show quick recovery. The lower demand and the high supply in the market is adding pressure to the vacancy rates. Based on the performance of the market during 2018, it is expected that that office market will continue to remain in pressure during 2019.

According to a new report, the Dubai rental rates remained in the range of Dh.1080 to Dh. 1940 per square meter annually during the fourth quarter of the previous year. Since, the buyers are now looking forward to having only quality properties so the offices in the prime locations outperformed the office in the secondary locations. The rents in the secondary locations dropped by around 11% in 2017 as compared to 30% decline recorded in the previous year.

Almost 58,000 square feet of the office space was added to the market during 2018, which highly increased the vacancy rates. Despite the situation, landlords are still hesitant to offer incentives to the tenants with only few landlords considering to offer rent free periods on long term tenancy contracts.

During the year 2018, approximately 750,000 square meter of office space has been scheduled for completion without any construction delays, which is expected to keep the office market in pressure through out the year. The vacancy rates would increase but they would not affect the lease rates unless government takes in time corrective action to fix the issue of oversupply in the office market.

Though the heavy supply would be added to the secondary office market, yet this oversupply if not controlled seriously cannot only deteriorate the office market in Dubai but it can also affect the residential sector of Dubai real estate. That would be the time when there would be nothing to cheer about Dubai real estate and to avoid it, government must block the news supply scheduled to add to the market during the year.

Dubai is still playing the role of a sound trading hub

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Long ago Dubai left its dependence on oil and gas reserves and turned into a trade and tourism hub. Boom in trading and tourism activities also increased the demand for its Dubai real estate sector. However, the economic crunch changed the situation and investors flew back to their home countries, abandoning their property in Dubai. Most of the businesses were closed or shifted to the neighbouring states. However passing through all the upheavals of past years, Dubai has made a comeback and reinforced its role as a stable and sound trading hub in the region. Entrepreneurs are expanding their businesses by apprehending the market situation.

This truth is supported by the stock market statistics of last month that reveal the stock market performed better than anywhere else in the world as businesses improved earnings so they paid higher dividends. The government officials claim that the city has no need to raise money from international bond markets this year.

Dubai, United Arab Emirates

Dubai, United Arab Emirates

The Viewpoint
It is expected that Dubai’s economy will expand and a few analysts have estimated that it will expand as much as five percent this year after growing more than three percent in 2018. This is one of the reasons that businesses are shifting back to Dubai and people are buying more and more commercial properties in Dubai.

The safety Factor
According to one of the analysts, Dubai is growing once again in transportation, logistics, tourism and the economy is being better managed currently from a couple of years prior to 2015. Businesses are coming back to Dubai due to political stability of the region. Therefore, economic growth and political stability both are favouring recovery in Dubai.

Decline in Costs
The decline in the cost of conducting business is also making Dubai more competitive. Dubai rent amounts have decreased around 65 percent on average as compared to the peak prices prior to 2015. Therefore, more and more businesses are shifting back to Dubai and the existing companies are expanding their businesses to take benefit from these opportunities.

The story of grand Burj Khalifa – From completion to the date!

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The super tall skyscraper, Burj Khalifa, is not only the tallest structure in the world but is also one of the luxurious and lush developments which add to the lure of Dubai. Being the centre of the mixed-use flagship development Downtown Dubai, Burj Khalifa includes 30,000 homes, 19 residential towers, nine hotels, observation deck, Parkland and man made Burj Khalifa Lake. The height of this tallest skyscraper is approximately 829m and it is expected to remain the tallest structure in the world until 2017.

Completion during bad times!

When the global final crises hit Dubai property market, Burj Khalifa was under construction. When it was completed on 4th January, 2010, the real estate sector of Dubai was in distressed condition. Overall the rate of vacancies and foreclosures were quite high and the confidence of the investors on Dubai real estate was badly shattered. When Burj Khalifa was opened, it was thought that it would not only raise the prices of properties in Dubai Downtown but also set the track of Dubai real estate on the whole towards recovery.
After the two months of its completion, a report was issued according to which occupancy levels in Downtown Dubai were reported to be 70%. These occupancy levels were mostly of the other developments and in Burj Khalifa, vacancy rate remained high. The wave of hopelessness spread when even after ten months of the completion, the vacancy rate of the apartments in Burj Khalifa remained quite high. The rents of the apartments fell by 40% due to lack of demand. Even out of total 900 apartments, some 825 were lying vacant at that time.

Cheerful News about Burj Khalifa!

With the better price stabilization noticed in 2011, experts predicted quick start to recovery in 2012. Finally 2012 is there and as predicated, it has brought first cheerful news about the Burj Khalifa residences. The results of Q1 have clearly indicated a growth of 9% to 10% in the prices of apartments in Burj Khalifa as compared to the previous quarter. During the final quarter of 2011, prices ranged Dh2600 to Dh3200 but now the same apartments are selling at Dh2850 to Dh3600.

The apartments providing awe-inspiring views of the lake, fountain, park or the road are selling at higher prices as compared to those that don’t offer such views. Consequently the prices of apartments having great views are improving while for the rest of the units they are showing stagnancy. On the other hand, rents are also showing minimal increases.

With the better demand forecasts in Downtown Dubai in the coming months, higher occupancy levels in Burj Khalifa are also expected, since luxurious properties are now at the top of the priority list of the investors and no other development can ever beat the luxurious lifestyle of the spectacular Burj Khalifa residences.

The skyscraper Burj Khalifa

The skyscraper Burj Khalifa