Residents seek better accommodation options for quality of life and value

11 August 2020

The stay-at-home restrictions and surge in employees working from home during Covid-19 have led many people in the UAE to reconsider their living spaces, as they take advantage of a drop in rental and sales prices to upgrade their properties.

The fall in rents and property prices make it the perfect time to negotiate with landlords and brokers to get a good deal on bigger accommodation, according to industry experts.

Average annual residential rents in some areas of Dubai declined by 15 … Read more ›

Abu Dhabi focuses on boosting economy

10 August 2020

A new economic collaboration committee made up of senior public and private sector figures in Abu Dhabi has been created to focus on the development of seven key sectors of the economy.

The body, which contains four representatives from government departments and 22 private sector organisations, was approved by the chairman of Abu Dhabi’s executive office, Sheikh Khalid bin Mohamed bin Zayed, on Sunday after reviewing the Department of Economic Development’s latest five-year plan.

Sheikh Khalid gave directions to create “a comprehensive … Read more ›

Homes with reduced prices being snapped up

09 July 2020

Real estate sale transactions in Dubai jumped by 60 per cent month-on-month in June 2020 signalling patterns of a V-shaped recovery, according to developers and property experts.

Real estate portal Property Finder said the sector in Dubai has been transacting more than 570 sales transactions weekly on average over the past several weeks as the secondary market bounced back to pre-Covid levels.

“During the past three weeks the number of weekly real estate sales transactions has been consistently increasing by almost 11 … Read more ›

Residential property the best investment?

22 June 2020

Some 35 years after buying my first home, and as I am about to retire as a personal finance columnist, it seems like a good time to review my best lifetime investment.

There have been a few great performers during that period in my financial portfolio: Emaar shares; a modest pension plan that turned into a decent lump sum and my own business, which I sold before the global financial crisis of 2008-09. But nothing has really topped simple residential real … Read more ›

Luxury UAE property selling fast

17 June 2020

The luxury sales and rental market in Dubai is the busiest it has been in years, say brokers, who feel that the pandemic has made high-net-worth individuals put a new emphasis on buying comfortable homes. “We are witnessing a huge shift in the market with a big uptick in activity in villa communities. There has been particularly high demand in areas like the Palm Jumeirah, which offers a perfect beach retreat, Al Barari, which affords residents large built-up areas and … Read more ›

Abu Dhabi property market update

11 June 2020

Residents across the UAE have faced difficult financial decisions in recent months amid the upheaval caused by the coronavirus pandemic.

Among them is whether they could save on what is likely to be the biggest expense in their budget – rent.

But has the market shifted enough to justify the cost of moving? Rents in Dubai and Abu Dhabi have been declining for the past few years on the back of lower oil prices and a property supply glut, although research showed … Read more ›