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Inside Micro Market Prices City Indices Dubai Real Estate Cycle What's Driving Dubai Real Estate

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Inside Micro Market Prices City Indices Dubai Real Estate Cycle What's Driving Dubai Real Estate DR E A L E S T AuT E M A R K EbT S N A P SaH O T i Inside Micro Market prices City Indices Dubai Real Estate Cycle What's driving Dubai Real Estate A S Q U A R E G L O B A L R E S E A R C H P U B L I C A T I O N w w w . s q u a r e y a r d s . c o m D U B A I Real Estate Cycle Dubai Real Estate Outlook in 2017 Dubai’s real estate industry is set Traditionally, Britons along with Bullish Sentiments in for a turn-around in 2017. After Indians & Pakistanis are major Anticipation rallying ahead in 2013-14, real international investor community in estate prices started softening in Dubai. However, after BREXIT, in H1 In 2017, real estate market in 2015 & 16 with average prices 2016; the total amount of British Dubai is expected to accelerate. being corrected by around 5% investment has been in tune of UAE’s economy will ramp up & this annually. Slowdown also persisted USD 1 billion, down from USD 1.3 will fuel demand for more in the rental markets. billion in H1, 2015. residential units through added job creation. Real Estate Market Sentiments Micro markets in Dubai such as in 2016 Dubai Silicon Oasis (DSO), Dubai The tourism industry in Dubai, will International City & Dubai Sports add more mileage to the real estate Real estate market sentiments City continued to show capital demand dynamics. The total have been slow in 2016 on the appreciation on the back of tourism & leisure revenue of Dubai back of slump in oil prices & a affordable housing options. Amidst has been in tune of USD 11.5 stronger dollar. As large slowing sentiments, the billion, which is expected to reach percentages of investors in Dubai developers introduced hosts of USD 15.8 billion in 2020. realty comes from regional oil attractive payment schemes with dependent economy, demand focus also on the post hand-over softened in the emirate. of units. EDITORIAL TEAM SQUARE YARDS RESEARCH www.squareyards.com 2 D U B A I E X P O 2 0 2 0 Major Expo 2020 initiatives will add strong momentum to the economy. Increased jobs will translate into higher demand for quality residential units. Many international investors would like a bet on real estate now to capture better returns in the post-2020 period. www.squareyards.com 3 W H A T ' S D R I V I N G R E A L T Y D E M A N D I N PROPERTY D U B A I INSIGHTS Major Drivers • Per Capita Income over $20,000 among the highest in the world • 10-year Average GDP growth rate of 8% • No foreign exchange controls, trade barriers or quotas • Diversified economy - Oil and Gas sector contributes only 6% to GDP Micro Markets – • 80% of world population reside within 12 hours of Dubai Prices Psf. ($) • No Corporate and Income Tax Down Town Dubai 572 • Dubai Expo 2020 is being seen as a major game changer Dubai Marina 524 • Dubai Metro line is one of the major infrastructure projects Al Barsha & Jumeirah Lake Towers 279 being pushed by the government Discovery Garden 392 Dubai Sports City 229 IMPZ 250 International City 193 Dubai Studio City 298 1 USD = 3.67 AED approx. City Indices Mortgage Rate – 3.75% (approximate) LTV Ratio – Between 50 – 80 %, different for UAE citizens and non-citizens Bestselling Key Developers – Emaar, Danube, Damac, Deyaar Projects Key Lenders – Commercial Bank of Dubai, HSBC, Mashreq, Noor Bank, National Bank of Abu Dhabi Midtown by Deyaar Transaction Costs – 4% to be paid to Dubai Land Department, One of the largest projects in plus other charges International Media Production Zone, spread over 5 million sq. ft. area Dubai Opera District Emaar’s flagship development, Dubai Opera District is a mixed-use, 500-acre project, and boasts world-class assets. www.squareyards.com 4 A New Growth Pattern by: Square Yards Research Dubai is pioneering new paradigm of growth in which, along with traditional growth drivers such as construction, real estate, tourism & banking, a strong focus will be given to tech-based innovations. Numerous high profile, govt. backed incubator programs such as Dubai Future Accelerator (DFA) have been rolled out to support budding entrepreneurs from around the World. The Emirate has also launched Dubai Design District (D3), a complete ecosystem to attract creative professionals. D3 will work as a common platform for creative minds to reside, collaborate, conduct business & prosper. Newer initiatives along with Dubai’s cosmopolitan culture & tax haven status could be a major pull for global, regional & local entrepreneurs to make the Emirate as the epicenter of their business activities. A heightened status as an entrepreneur hub will be a major boost to the residential demand in the Emirate. With the arrival of a new bunch of creative individuals in the city, more innovations in the housing design could be observed. Outlook 2017 Based on healthy socio-economic conditions, the times to come will see increased real estate activities. However, there might some period of continued flattening, before the markets will actually pick up. Although markets will continue to see the large volume of innovative financial deals in the mid-budget markets; the luxury segment will also see an uptick in demand on the back of rising demand & narrowing pipeline. www.squareyards.com 5 W W W . S Q U A R E Y A R D S . C O M India Toll-Free No. 1800 208 3344 Hong Kong 1/3-A, Pedder Street, Central Building, Toll-Free No. 800906894 Dubai Office No. 406, Icon Tower, TECOM, Toll-Free No. 800035703826 Abu Dhabi Office No. 603, Abu Dhabi Plaza Building, Fatima Bin Mubarak Street +8000320018 Sharjah Office No. 4054, Regus, 2XL Furniture Building, Plot No 260, Al Qassimia © Square Yards Consulting Pvt. Ltd. Design & Layout - Tushar Mangl | Research & Text - Paritosh Kashyap & Tushar Mangl.
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