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Overseas Property News
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Dubai property sales plummet 42.6%
Country: Dubai, United Arab Emirates
9 July 2009 Data from REIDIN.com, a research company that monitors Dubai property transactions using data from the Dubai Land Department, shows that just 1,724 properties in Dubai were sold in H1 2009, down 42.6% over the corresponding period last year. The results for the first half of this year come as house builders in Dubai get ready to release their earnings reports for Q2 of this year. Dubai property developers are preparing themselves for another tough quarter in Q3, with sales levels expected to remain sluggish. Commentating on the data, Chet Riley, an analyst at Nomura Securities, told the press: “We are seeing some signs of stability in the underlying market, but crunch comes in the second half of the year, when a number of developments are due. Any development delays, which we are starting to see, will not allow developers to recognise sales revenues and may lead to further analyst earnings downgrades.” The fact that property prices have fallen by up to 50% across some parts of the emirate has contributed towards the fall in transactions.
See Also: Dubai, Marc Da-Silva
Some properties in Dubai, United Arab Emirates
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Price: £162,772
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Type: Apartment
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Bedrooms: 1
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Elite Residence is destined to become one of the most exclusive and sought-after addresses in the Middle East, it is ideally located at the core of Dubai Marina, near significant city landmarks like Palm Jumeirah and the Mall of the Emirates.
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Price: £181,616
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Type: Apartment
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Bedrooms: 1
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Considered the tallest residential tower in the world, The Princess Tower is being constructed on a 37,410 square feet plot in the Marina area, known to be one of the most exclusive and prestigious areas in Dubai.
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Price: £264,880
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Type: Apartment
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Bedrooms: 1,2,3
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DUBAI GATE 2
JUMEIRAH LAKE TOWERS
1 BEDROOM PLUS DINING ROOM
18TH FLOOR FANTASTIC VIEWS
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Price: £271,881
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Type: Apartment
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Bedrooms: 2
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Elite Residence is destined to become one of the most exclusive and sought-after addresses in the Middle East, it is ideally located at the core of Dubai Marina, near significant city landmarks like Palm Jumeirah and the Mall of the Emirates.
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View details | Enquire further
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Price: £299,300
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Type: Apartment
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Bedrooms: 1
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· Project: The Fairways
· Developer: EMAAR
· Tower: T1 / West
· Type: 1 BR
· Suite area: 709 Sq ft
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Price: £435,654 GBP
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Type: Apartment
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Bedrooms: 3
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This luxurious 3 Bedroom apartment is a distress sale and is offered below market price.
Located in one of the prime Towers in the most sought after location in Dubai – O2 Residence in Jumeirah Lake Towers<
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Price: £731,763
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Type: Apartment
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Bedrooms: 3
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Elite Residence is destined to become one of the most exclusive and sought-after addresses in the Middle East, it is ideally located at the core of Dubai Marina, near significant city landmarks like Palm Jumeirah and the Mall of the Emirates.
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View details | Enquire further
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Price: £1,432,557 GBP
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Type: Apartment
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Bedrooms: 1,2,3
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The Mansion at Burj Dubai is an architectural masterpiece, its unique value proposition is that all homes within the 60-storey tower open to direct views of Burj Dubai, the world's tallest building, and the magnificent fountain on Burj Dubai Lake.220
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Price: £1,864,970 GBP
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Type: Penthouse
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Bedrooms: 5
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Developer Deyaar
Penthouse, Top floor
Full lake view
Floor 38
Area: 5,765 sq.ft
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