Dubai Real Estate Market Records $4.1bn in Transactions and 3,726 Sales Last Week Dubai’s real estate sector registered AED14.88bn ($4.1bn) in transactions last week, as per data from the Land Department. Sales accounted for the majority, reaching AED11.38bn ($3.1bn), according to the Land Department’s figures. A total of 3,726 sales transactions were recorded between March 10 and March 14. Top...
How Much Should Dubai Property Buyers Save Before Purchasing a $1 Million Home? In Dubai’s real estate market, buyers often wonder how much they need to save before committing to a million-dollar property. Financial experts suggest that aside from the initial down payment, buyers should set aside AED1.25-1.6 million ($340,000-$435,000) before making a purchase. According to Mike Coady, a...
Fitch has also given Binghatti a ‘stable outlook,’ reflecting confidence in the company’s continued financial discipline and market leadership. Dubai’s leading developer, Binghatti Holding, announced that Fitch Ratings has upgraded its Long-Term Issuer Default Rating (IDR) and senior unsecured debt from ‘B+’ to ‘BB-’. The upgrade is attributed to Binghatti’s strengthened financial...
It seems that UAE property buyers are finally gaining more leverage over sellers than they have in years. Recent data shows that prices have started to decline, indicating a market where developers and sellers are becoming more willing to adjust their pricing. Previously, generous commissions offered by developers were not enough to prevent a downturn in certain indices, particularly those dominated by...
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