Indians, Pakistanis top list for Dubai properties
Dubai - Dubizzle referred to the 3.7 million monthly visits to its property section to create an in-depth report on Dubai's ever-changing property landscape.
By Rohma Sadaqat
Published: Wed 9 Sep 2015, 12:00 AM
Last updated: Thu 10 Sep 2015, 3:36 AM
Indian nationals have topped the list of different nationalities looking to buy and rent properties in Dubai, dubizzle's latest property report has revealed.
The report revealed the top 10 nationalities shopping for property to rent and buy, with Indians topping the list for top 10 nationalities looking to buy property in Dubai, followed by customers from Pakistan, and the UAE in second and third place respectively. They were followed by customers from the Philippines, Egypt, the UK, Jordan, Syria, Lebanon, and the US.
Indian nationals also topped the list for top 10 nationalities looking to rent property in Dubai, followed by citizens from the Philippines and Pakistan in second and third place respectively. They were followed by customers from Egypt, the UAE, Jordan, the UK, Syria, Sri Lanka, and Lebanon.
Dubizzle referred to the 3.7 million monthly visits to its property section to create an in-depth report on Dubai's ever-changing property landscape. Unveiled at this year's Cityscape, dubizzle's latest property report was compiled following eight months of trend analysis, using data from January-August 2015, on the Dubai real-estate market, with data revealing the latest trends in commercial, retail and residential real estate across Dubai's key communities.
Commenting on the findings of the report, Ann Boothello, product marketing manager at dubizzle.com, said: "Dubai's property landscape is ever-changing, and with recent game-changing events such as the drop in oil prices, lift in sanctions in Iran, and an increased frequency in the launch of several off-plan developments, the Dubai real estate market is being scrutinised by all real estate stake holders."
The report also revealed that waterfront communities have experienced a slight dip in the median price per square foot, with the Palm Jumeirah seeing a drop from Dh1,800 in January to Dh1,700 in August. This price decrease was also reflected in the average annual rental prices of three-bedroom apartments, which dropped by four per cent. Two-bedroom apartments in the area, however, saw a slight increase of three per cent in May.
Dubai Marina saw no fluctuation in its median price per square foot, maintaining a price of Dh1,800 per square foot since the beginning of the year. In the heart of it all, Downtown Dubai and the Burj Khalifa, median square foot sale prices were well maintained and saw only marginal differences.
The Burj Khalifa area saw a mild spike in the average annual rent prices of one and two-bedroom apartments, increasing from Dh188,000 and Dh290,000 in January to Dh195,000 in and Dh315,000 in August. Three-bedroom apartments in the Burj Khalifa, however, saw a decrease of five per cent, dipping from Dh420,000 in January to Dh400,000 in August.
Propertyfinder.ae's quarterly community focus report also revealed that in terms of on site apartment visits, the top 10 most trafficked areas consistently remained the same year after year, with the traffic becoming more evenly spread. The Dubai Marina retained its top position, however, its percentage share in Q3, 2015 decreased, allowing for other communities to gain increased market share. In terms of on site villa visits, Arabian Ranches remained the top most visited community in the quarter, followed by the Springs.