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PLACE

MONTHLY REPORT

EMIRATES 2 3 4 5 6

LIVING | | | | |

Lakes, Meadows and Springs Villa selling Price’s Recently SOLD in Emirates Living Hot Properties & What we have noticed! News Allsopp & Allsopp Awards & Our Emirates Living Specialist

November 2012

THE MARKET


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Allsopp and Allsopp’s Emirates Living Specialist Market Analysis

Lakes

Meadows

Springs


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SOLD

Recently Sold Emirates Living Properties

DEVELOPMENT

BUILDING

TYPE

PRICE

Springs 15

4M

Back to Back

AED 1,530,000

Springs 6

2M

Road - Springs Drive

AED 2,600,000

Type 2

Back to Back

AED 5,150,000

Legacy 4 Bedroom

Road

AED 4,250,000

Back to Back

AED 3,250,000

C1

Community View

AED 5,350,000

A- End

Back to Back

AED 2,359,000

2 Bedroom Standalone Private Pool

Back to back

AED 2,470,000

Meadows 1 Jumeirah Park J4 Package 2

Jumeirah Park O3 3 Bedroom Legacy Large Package 4 Arabian Ranches Alvorada 3 Arabian Ranches Alma 2 JVT District 9

What we have noticed During the month of October we definitely continued to see an increase in buyers focusing on Jumeirah Park and also in Jumeirah Village Triangle. Both of these new developments offer fantastic layouts, new appliances, large plots and the flexibility to extend in the future. Value for money in both areas is obviously appealing to both end users looking to purchase for the first time in Dubai and investment buyers as they capital gain projected in the new developments is far greater than in the already established surrounding areas. The price’s in the Springs, Meadows and Lakes appear to have started to level out however there is still a demand for properties in good locations, vacate and who’s seller is serious about selling. Price is always one of the main factors sellers need to consider when looking to sell and unfortunately there are some buyers that are not motivated to sell but want to market their property to see what interest they may be able to achieve. At Allsopp and Allsopp we’re focusing on quality listings rather than quantity, we are obtaining the sellers documents to show commitment from their side which we have already noticed is helping us filter out the not so serious sellers out there as they seem more reluctant to commit by sending us all the relevant paperwork. We are however offering a free valuation service which many sellers are finding extremely beneficial and informative. Also many sellers are keen to sell but also aren’t sure what to do with any equity they may have from the sale which is where our international division has also seen a benefit as they have been able to discuss with sellers various options they have in the UK in areas such as Central London, Nottingham, Manchester and Leeds. If you’re interested in speaking to one of our international specialists then please contact Hamilton on +971 (0)502926472

Will your property be next?


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Hot Properties For Sale

Jumeirah Park Legacy: 4 Bedrooms AED 5,000,000 4335 sq. ft. Meadows 7 Type 2 5 Bedrooms Type 16 AED 6,700,000 6990 Sq ft plot size

Springs 8: 3 Bedroom Type 3E AED 2,400,000 2258 Sq ft

Meadows 8, Type L1 5 Bedroom plus maids room AED 10,500,000 6151 Sq ft

Aldea: The Villa Project A2 Aldea AED 3,000,000 3960 Sq ft


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Emirates Living News

NEWS: Dubai villa prices up 19.9% in year, says Knight Frank Saturday, 3 November 2012 9:44 AM The price of villas in Dubai has risen by 19.9 percent in the past year, according to the Knight Frank Prime Global Cities Index for the third quarter of 2012. The global index, which rose by 1.1 percent in the three months to September down from 1.4 percent in the previous quarter, also showed that villa prices in Dubai rose 2.9 percent in Q3. The price growth for the six months from March to September was recorded at 11.1 percent, making Dubai the second best performing market of the 26 cities tracked by the index, behind Jakarta. Five cities recorded double-digit price growth in the year to September - Jakarta, Dubai, Miami, Nairobi and London. Cities such as Dubai, Miami, Nairobi and London are increasingly considered investment hubs for high net worth individuals (HNWIs) in their wider regions," Knight Frank said in the report. "In the wake of the Arab Spring, Dubai has been seen as a relative safe haven for MENA buyers while Venezuelan and Brazilian investors have looked to Miami to limit their exposure to domestic political and economic volatility." Property prices in Dubai soared after the city opened its real estate sector to foreign investors in 2002, granting them freehold ownership rights at many developments. From start-2007 to mid-2008, prices rallied almost 80 percent, Morgan Stanley estimates showed, with billions of dollars worth of new projects launched by local developers. But home prices in Dubai suffered the biggest reversal seen in the Gulf property market as result of the financial crisis, declining on average 60 percent.Fifteen of the 26 cities (58 percent) recorded flat or positive price growth in the year to September, but over the last quarter that increased to 20 of the 26 cities. The index now stands 18.7 percent above its financial crisis low in Q2 2009 with Hong Kong, London and Beijing having been the strongest performers over this period, recording price growth of 52.9 percent, 45.4 percent and 39.5 percent respectively. Cities in Europe remained the weakest performers, recording a fall of 0.5 percent on average in the last 12 months, the index showed.In Paris, although prices held firm in the third quarter, sales activity was muted as buyers of all nationalities adopted a “wait and see” attitude. Knight Frank said vendors are unwilling to reduce prices until there is greater clarity from President Hollande and the Eurozone leaders in relation to the debt crisis. "Asia’s prime markets look to be entering a period of more moderate growth due in part to the regulatory measures aimed at cooling prices and improving domestic affordability," the report added. James Price of Knight Frank’s International Residential Development team said: “Aside from London, it would appear the other strong performers are either those established international markets that experienced a lull but are now ‘kicking on’ again (such as Miami, Dubai) or those that could be described as second tier international cities – strong established markets, but not global ‘gateway’ cities (Zurich, Vienna, San Francisco), where interest has driven price rises from a lower base.


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Our Emirates Living Specialist

Joanne Parker

Emirates Living Specialist Mobile: +971(0)50 940 5440 jo@allsoppandallsopp.com

Call us now to discuss any property needs on Emirates

Living.

Emirates Living Newsletter November 2012  

Emirates Living Newsletter November 2012

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