REAL ESTATE
Quality properties see increasing stability
L
andmark Advisory, one of the leading real estate consultancy companies in the Middle East, has released its June 2009 sales and leasing price maps for the Dubai market. A transaction-based reference for prospective buyers and leasers alike, the Dubai Price Maps continues to evidence a 180-degree turnaround from the previously supply-driven property market to the more demanddriven market. They are available now for online download, and the company’s recent price map for Abu Dhabi is also available at http://www. landmark-advisory.com. For potential home buyers, the latest price surveys indicate that ‘distressed sale’ opportunities are largely finished, as sellers refuse to lower existing prices, and buyers in some cases are paying increased rates for sought-after residential developments with limited homes available. On an average, the company anticipates further decreases in Dubai rents for the third quarter of 2009, although signs of rent stabilisation exist and some landlords are still experiencing robust demand for higher-quality rented homes in premium locations such as Jumeirah Islands and Green Community. The sharpest decline is with apartments. The combination of the economic downturn and a large quantity of high-rise apartments that were completed in 2008 has resulted in an oversupply in this segment. One notable element of the latest survey is the continual refinement of price differentiation which was previously based on factors such as location, views and the quality of finishing. Now, environmental factors are influencing consumer decisionmaking; for example, units in close proximity to high voltage power lines are renting for lower rates than similar units located farther from power sources.
Sales Guide - June 2009 (Sales Rates in Dubai) Apartments (AED / FT) Project
Studio
1Bed
2Bed
3Bed
4Bed
CENTRAL DUBAI Palm Jumeirah Dubai International Financial centre Dubai Marina The Greens The Views Jumeirah Lake Towers Jumeirah Beach Residence Jumeirah Village Business Bay Old Town Rest of Downtown Burj Dubai TECOM
850 - 1,000
700-1,400 850 - 1,000
750-1,500 800 - 1,000
750 - 1,500 800 - 1,000
750 - 1,200 800 - 1,300
750 - 1,400 900 - 1,100 1,000 - 1,600 700 - 900 1,000 - 1,300 700 - 900 850 - 900 900 - 1,100 1,100 - 3,000 800 - 1,000
750 - 1,450 900 - 1,100 900 - 1,500 650 - 900 850 - 1,250 550 - 800 850 - 900 900 - 1,100 1,100 - 3,000 800 - 1,000
700 - 1,400 900 - 1,000 900 - 1,450 650 - 900 850 - 1,300 550 - 750 850 1,100 900 - 1,000 1,050 - 3,000 900 - 1,100
700 - 1,400 900 - 1,000 900 - 1,450 650 - 850 850 - 1,100 550 - 750 750 - 1,050 900 - 1,000 900 - 3,000 900 - 1,100
700 - 1,300 800 - 1,100 -
EAST DUBAI International City Dubai Silicon Oasis
590 - 800 550 - 750
550 - 800 650 - 750
550 - 750 650 - 750
650 - 750 650 - 750
-
WEST DUBAI Discovery Gardens Green Community
450 - 660 700 - 750
600 - 700 700 - 750
750 - 900
750 - 800
-
SOUTH DUBAI Motor City Dubai Sports City
680 - 800 600 - 700
680 - 700 600 - 800
590 - 700 600 - 800
590 - 700 500 - 750
590 - 700 -
Villas (AED / FT) Project
2Bed
3Bed
4Bed
5Bed
6Bed
CENTRAL DUBAI Palm Jumeirah Jumeirah Islands The Springs The Meadows Emirates Hills The Lakes Jumeirah Village
750 - 800 -
900 - 1,500 750 - 1,200 900 - 1,030 550 - 650
900 - 1,600 950 - 1,050 750 - 1,200 770 - 1,270 850 - 1,030 550 - 650
950 - 1,800 950 - 1,050 1,050 - 1,440 850 - 1,030 600 - 650
950 - 1,800 1,600 - 3,600 600 - 650
WEST DUBAI Green Community
-
550 - 750
450 - 700
475 - 600
450 - 600
SOUTH DUBAI Motor City Victoria Heights Dubai Sports City Arabian Ranches
-
750 - 900 650 - 750 700 - 900 800 - 900
650 - 800 650 - 750 700 - 900 800 - 1,000
600 - 750 680 - 900 800 - 1,000
550 - 700 680 - 900 900 - 1,200
Commercial (AED / FT) CENTRAL DUBAI DIFC 1,800 - 2,400 Jumeirah Lake Towers 700 - 850 TECOM 1,100 - 1,800
EAST DUBAI International City Dubai Silicon Oasis
500 - 750 650 - 900
SOUTH DUBAI Motor City Dubai Sports City
690 - 850 700 - 800
UAE Digest, July-August 2009 l 11