Dubai PR Network, Online Press Release from Dubai and Middle East
 
Property & Real Estate(Real Estate & Retail)
Filter PR by
  
Bayut's Q2 2013 Report - Sale and rental prices rise in Dubai
 

Sale and rental price of property in Dubai continued to rise during Q2 2013. The effects of selective recovery seen in Dubai's posh localities last year still linger in the market and luxury property continues to see increases in its sale and rental prices. According to Bayut.com's Q2 2013 report, meticulously prepared by Bayut.com, the luxury property has emerged as the top performer of the second quarter. Other independent reports such as those prepared by JLL also indicate the same and say that many investors in Dubai like to invest in Palm Jumeirah and Dubai Marina.

According to Bayut.com's data, the Q2 2013 ended by registering a price hike 24.50% for studio apartments in Dubai Marina. With a 14.70% quarter on quarter increase, studio apartments remained the best performing apartments in Dubai. On the downside, the average sale price of 4+ bedroom apartment in the same locality dropped 3.8%. It was observed throughout the state that the sale price of 4+ bedroom apartments in Dubai dropped uniformly. In Dubai Marina and Palm Jumeirah, sale price of 4+ bedroom apartments experienced a drop of 3.80% and 2.57% respectively.

The rental market in Dubai has also performed clearly well during Q2 2013. The data collected by Bayut.com shows that all the rents in all popular communities of Dubai including Downtown Dubai, Dubai Marina, JLT, and Palm Jumeirah registered a healthy spike in rental prices. On the average, the Dubai rental market went up by 3.38% during Q2 2013. Studio and 1 and 2 bedroom apartments benefited more from the market situation, while the rents for 4+ bedroom apartments also increased. In Palm Jumeirah, the rental price of studios increased 11.83% and the price hike for rents in JLT apartment was also in double digits.

The price hike seen in posh localities is a depiction of investors' interest and confidence in the market and these figures also act as catalysts to further attract more investors. With rising rents and increasing sale price, the tenants and general buyers are drawn to low profile areas giving way to uniformity in the market. It is quite likely that by the end of this year, the investors will have more investment options because the less posh localities and newly announced projects will make it easy and promising for everyone to cash their share from the property market of the UAE.

To read the full report, you can visit the following link: Sale and rental prices in Dubai skyrocketed in H1 2013, reports Bayut.com


Posted by : Dubai PR Network Editorial Team
Viewed 18086 times
PR Category : Real Estate & Retail
Posted on : Sunday, July 14, 2013  3:32:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Bahrain Real Estate Sector Shows First Small Signs of Recove...
Next Story : Orion Holdings Signs Partnership with Celebrity Architect/De...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Pandora ME for Every Side of You [4457-Views]
Code 11.59 by Audemars Piguet – New Tones of Elegance [4424-Views]
“CATRICE” Perfect Look for “Back to the Office” [3526-Views]
Your Guide to Choosing the Right Face Mask [3350-Views]
TishTash Eid Al-Adha Gift Guide 2020 [2767-Views]
Get Summer Ready With Magnitone London! [2722-Views]
Newest LG True Wireless Earbuds Self-clean, Sound Great With Meridian Audio [2628-Views]
Newly Launched HONOR 9A Offers Stunning Photography Anytime Anywhere [2595-Views]
Wonder Ingredients For Powerful Skincare [2505-Views]
10 Million Plastic Packaging Saved: Grohe Launches Initiative to Reduce Plastic [2239-Views]
Taste the Summer With Wild & the Moon's Latest Menu Drop! [2177-Views]
Dubai Well Poised for Growth in New Business Entities' [2169-Views]
Smash Summer Fitness Goals with 100 Workout Modes on the HONOR MagicWatch 2 [2128-Views]
Nahdi Medical Company Transforms its Financial Management with Infor [2120-Views]
Tonda 1950 Lune' [2050-Views]
Comprehensive Study of Refugee Children's Academic, Social, and Emotional Learning Outcome... [1988-Views]
The New Season of Master Maserati Programme Gets Underway [1984-Views]
70 Percent of Businesses Increase or Maintain Digital Transformation Spend Amid Pandemic, ... [1972-Views]
Six Ways LG's Puricare Air Purifiers Can Help Families Improve Air Quality at Home [1972-Views]
Alstom at Forefront of Hygiene & Safety Innovation for Transport & Mobility in a COVID-19 ... [1935-Views]
Hitachi ABB Power Grids Commences Operations [1857-Views]
Karl Lagerfeld Announces Collaboration With Designer Kenneth Ize [1845-Views]
Three UAE Students Bag Coveted Princess Diana Award for Outstanding Social Initiative [1837-Views]
Meet the #Sephorasquad Middle East Members! [1816-Views]
Honeywell Launches Innovative Cooling Technology for Electronics, Data Centers [1792-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories