Revealed: Dubai's highest real estate transactions in 2011

posted @ 12:00am, Wednesday 22 February 2012.

An 11,355 sq ft apartment in the Burj Khalifa, sold in October for AED28.15m ($7.66m), has been ranked the most expensive real estate transaction in Dubai of 2011, according to data from real estate website Reidin.com.Villas and apartments by Dubai-based property developer Emaar dominated the top eight real estate transactions last year with three apartment sales in the Burj Khalifa and three transactions in its luxury Emirates Hills development.'A 7,910 sq ft unit in the Burj Khalifa ranked as Dubai's second largest transaction when it sold for AED28m, or AED3,910 per sq ft, in February 2011.

Two villas on Nakheel's flagship development, Palm Jumeirah, sold for a combined total of AED45.3m. The two properties, one 13,401 sq ft and another 13,396 sq ft, were sold for AED23.5m and AED21.8m, respectively.Total real estate transactions in the emirate reached 35,297 last year, an increase of 20 percent compared to the previous year, Dubai's Land Department said last month. Total transactions were valued at AED143bn.The real estate market in Dubai is showing some signs of recovery after prices plunged more than 60 percent from 2008-peaks. House prices in prime projects such as Palm Jumeirah and Arabian Ranches, slightly increased in the third quarter, Jones Lang LaSalle said in September.But analysts remain concerned that the estimated 33,000 new homes scheduled to hit Dubai's market by end-2012 could cause fresh declines in rental and sale prices. Renewed global financial woes and the European sovereign debt crisis are also likely to cause more pain, with Moody's in October predicting any price recovery to be delayed to 2016.
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Real estate figures from the United Arab Emirates (UAE)

posted @ 12:00am, Tuesday 21 February 2012.

Real estate figures from the United Arab Emirates (UAE) have seen mixed results, with property values in some areas rising, while others are falling.
According to the REIDIN.com UAE Residential Property Price Indices: January 2012 Results, Dubai has had an increase in real estate values since December 2011.
Findings showed prices for residential property rose by 1.21 per cent in the month, resulting in a boost for property in the UAE.

The report revealed apartment sales prices grew by 0.54 per cent, while villa sales values increased by 1.58 per cent during this period.
However, the figures also showed residential real estate in Abu Dhabi declined in value between December 2011 and January 2012 by 0.59 per cent, as a result of apartment and villa sales prices dropping by 0.98 per cent and 0.04 per cent respectively over the month.

This follows Jones Lang LaSalle’s Top trends for UAE Real Estate in 2012 report, which predicted that while there will be a greater number of property transactions in 2012 compared with last year, there will be more realism among investors, with the focus being directed towards long-term commercial viability.

http://www.mountain-property.co.uk/

Dubai/Abu Dhabi Residential Property Price Indices: January 2012 Results

posted @ 12:00am, Thursday 16 February 2012.

February, 2012

Dubai Sales Price Indices:
A monthly rise in Dubai Residential Property Price Index - All Residential (RPPI - All Residential) with a 1.21% between January 2012 and December 2011...



Dubai Rent Price Indices:
A monthly rise in Dubai Residential Property Price Index - All Residential (RPPI – All Residential) with a 0.87% between January 2012 and December 2011...



Abu Dhabi Sales Price Indices:
A monthly decrease in Abu Dhabi Residential Property Price Index - All Residential (RPPI - All Residential) with a 0.59% between January 2012 and December 2011...


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