Dubai Property Blog

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Dubai real estate investors have found villas providing the greater capital appreciation over the past few years. But rental yields have fallen as a consequence, making apartments more attractive in certain locations. Is this a trend likely to continue in 2008, or will villas emerge again as the better choice for investment?

This autumn the Dubai real estate market has absorbed two massive apartment projects - the shoreline apartments on The Palm Jumeriah and the Jumeirah Beach Residence - a total of more than 7,500 units. Both offer an excellent beach location but service charge differentials have become important.

A new report from Better Homes points to a huge appreciation in values for several Dubai International Financial Centre buildings in the past three months, and notes that since the start of 2007 land prices in Business Bay have increased by almost 40 per cent.

AME Info today joined a party of journalists visiting the Australian continent on The World, an artificial archipelago of islands shaped like a map of the world, four kilometers off Dubai, now nearing completion. Host Oqyana expect to start selling units next autumn.

This is a question that tenants and potential home buyers are asking all the time. But with talk about the rent cap not being renewed for 2008 and an explosion of investment banking growth in Dubai, combined with inflationary local salary rises, it is a matter of how much, and not whether rents and prices rise.

There is a growing national consensus that the UAE dirham is 20-30 per cent undervalued against the US dollar, and that the time for a revaluation is approaching, even if the dollar-peg itself stays in place for GCC currencies as Saudi Arabia wants. But what impact would say a 10-15 per cent revaluation have on Dubai property?

The global economic outlook for 2008 is darkening with the ongoing US sub-prime lending crisis and the credit crunch. For Dubai real estate the balance is between lower interest rates increasing the affordability of local property versus a business slowdown and an increasing supply of real estate.

Fears that an imminent oversupply of real estate in Dubai would depress the sector in 2008 have now been pushed back by most observers to 2010, due to construction capacity constraints and the continued tide of new immigration. Indeed, the main concern is that local inflationary pressures are going to drive rents and prices higher.

Provided by 7DAYS.ae

Property investment can be a vast and daunting field. Choosing the right market at the right time is by no means easy.  When purchasing property, one must take the emotion away and invest with the head. Understanding purchasing procedures and property legislation is critical especially when investing overseas. Certain markets offer very transparent, regulated procedures. Cyprus is one such market. Cyprus has been rated as the best place to invest in property anywhere in the world. Situated less than three hours flight direct from Dubai, Cyprus sits at the No.1 position in the ‘Where on Earth Hot Property Index’, or WHOEPI. The monthly WHOEPI assesses countries’ viability as an investment destination using a dozen factors. These include each country’s level of Foreign Direct Investment (FDI), its political and economic climate, its GDP, the number of the new developments being built there, the number of internet ‘hits’ a country gets and how much promotion a country receives in the media. Cyprus scored highly in new property developments, political climate, and very highly in net hits and media coverage.  Popular for its year-round sun, the island is expecting a strong 2007 (realtor Knight Frank predicts 12.5 per cent capital value growth).  Purchasing in Cyprus is simple, secure and puts you on on the European property ladder. Cyprus is a full member of the European Union and with that comes peace of mind from long standing property legislation. A rush of new investors is expected towards the end of this year due to the planned adoption of the Euro in January 2008. Joining the eurozone should lower interest rates, making borrowing cheaper, and in turn fuel property purchases. So where in Cyprus?  Areas traditionally popular for overseas investment include Limassol, Pafos and Agia Napa. Prices however reflect the demand, which is why the region of Larnaca in particular offers a new window for investors with relatively low prices on off-plan property along with the opportunity for excellent appreciation in property values. With EU grants being offered to the region, Larnaca will be undergoing strong development over the next few years; new international airport, new marina for cruise liners, and the region’s first PGA golf course – all of which bode well for new investors. Specialising in international property investment, Mackenzie Macmillan advises a solid client base throughout the GCC. Partnered with Quality Group, one of the Cyprus’ leading developers and the Bank of Cyprus, Mackenzie Macmillan will host a four-day Investment Interactive from tomorrow to March 11 at the Fairmont Hotel, Dubai, from 2pm to 9pm daily. The event gives potential investors of all levels the opportunity to sit and discuss investment opportunities directly with the developer and gain invaluable property investment advice from Mackenzie Macmillan.

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