Propertyfinder.ae, the UAE’s leading property portal, today released a report revealing the UAE’s top real estate statistics. The purpose of this report is to showcase the trends and habits of property browsers searching on propertyfinder.ae.
The report is attached and demonstrates the current UAE market broken down in various segments. This report comes from the people who tend to be the actual renters and buyers of property in the UAE over the next 1-6 months.
*The numbers are the search results stemming from a range of approximately 550,000 visitors; 3 Million property pages; 100,000 properties; and 200 brokers.
There are plenty of charts included and some key notes from the report show:
When Buying
• The top 10 areas viewed remain mostly in New Dubai but their respective market shares are thinning compared to Q2 and Q1.
• Traditionally inexpensive areas are struggling now as the more ‘popular’ areas are experiencing a significant price competition.
• The good news is the quality of listings is getting better each month as a result of heightened competition.
• Some brokers are even starting to use virtual tours!
• AED 1.5 Million is clearly setting the ceiling range for the most part.
• Only 5.9% of the market inquired above 1.5 Million Dhs. in Q3.
• Lower pricing may also indicate shorter repayment terms and better yields for owners and investors.
• Smaller units are turning over more rapidly this quarter.
When Renting
• People are viewing more desirable locations as they become more affordable.
• Arabian Ranches jumped 10 places this quarter as their villas become very affordable.
• The Palm jumped 7 places this quarter as inquiries on the island heat up.
• Downtown Dubai jumped 5 places this quarter as people are looking at the prices drop month on month.
• International City dropped 8 places this quarter as people seem to be moving up and out.
• The 50-80,000 range takes the lion’s share of the inquiry market.
• Studios are barely looked at; at best.
• Price wars are keeping very small and very large units at bay as comfortable units are priced comfortably now.
• Short-term rentals and hotel apartments are gaining ground slowly as prices dictate inquiries.
We hope you will benefit from this report and use it towards your own objectives.
–end–
Media and Comment Contact:
Marcello Sambartolo | Head of Marketing | +971 4 343 2270 |[email protected]
http://www.propertyfinder.ae/
*The data was compiled from results using Google Analytics, Nielsen, and Omniture Inc.
# # #
Propertyfinder.ae is the number one dedicated property portal in the UAE. Our focus is to successfully join buyers and renters with sellers and letters in both English and Arabic. We list properties in residential and commercial sectors.
— end —
Issued By: propertyfinder.ae
Phone: +971 4 343 2270
Fax: +971 4 343 2280
Address: 2404 Sh. Essa Tower, Sh. Zayed Road Po Box 50954 : Dubai, UAE
Zip: 50954
City/Town: Sheikh Zayed Road
State/Province: Dubai
Country: United Arab Emirates
Categories: Real estate
Keywords: Dubai property, Dubai property market, property market report
