propertyfinder.ae - quarterly report (q2- 2014)

UAE Real Estate Review

Q2 2014

UA

E R

EA

L E

STA

TE

RE

VIE

W Q

2 2

014

BU

Y

Which communities were people looking to buy and rent in Dubai and Abu Dhabi last quarter?

How much should you pay to buy or rent a pad?

DUBAI TOP 10 SEARCHED COMMUNITIES

Downtown Dubai Downtown Dubai

propertiesviewed

679licensed real estate

brokerages & developers

324,500properties

listed

153million

322,000inquiries

generated

Dubai Marina

Palm Jumeirah

Downtown Dubai

Dubailand

Jumeirah Village Circle

Jumeirah Lake Towers

Dubai Sports City

Arabian Ranches

Jumeirah Beach Residence

Business BayNEW

1

2

3

4

5

6

7

8

9

10

1

2

3

4

6

8

10

9

5

7

Dubai Marina continues to ace the rankings; has been Dubai’s top community for buying property for over 2 years in a row.

Rise of Dubailand: the area placed 7th in Q2 2013; this quarter, it has grabbed 4th spot.

Jumeirah Village Circle has upped its ranking. In Q2 2013, it took 18th spot; this quarter it’s at 5th place. Similarly, Dubai Sports City, placing 9th in 2013, has moved up 2 places this quarter.

Business Bay is also rising in popularity. In Q2 2012 and 2013, the community placed 13th; has jumped 3 places this quarter.

Highlights

DUBAI AVERAGE PROPERTY PRICES PRICE (June 2014)

APARTMENTS

Studio

1 Bedroom

2 Bedrooms

3 Bedrooms

4 Bedrooms

Dubai Marina

Palm Jumeirah

Downtown Dubai

Dubailand



Dubai Sports City

Arabian Ranches


Business Bay

2.8

4

3.9

1

1

1.8

1

Not Applicable

3.4

2.5

8.5

20

8.7

5.3

3.1

Not Applicable

6.1

5.1

Not Applicable

9

Dubai Marina

Palm Jumeirah

Downtown Dubai

Dubailand



Dubai Sports City

Arabian Ranches


Business Bay

AVERAGE PRICEBY PROPERTY TYPE

AVERAGEPRICE

PER SQ. FT.AVERAGE

SIZEAVERAGE PRICE

BY PROPERTY TYPE

AVERAGEPRICE

PER SQ. FT.AVERAGE

SIZE

1,604

1,783

1,950

1,929

2,064

598

959

1,554

2,298

4,074

VILLAS

2 Bedrooms

3 Bedrooms

4 Bedrooms

5 Bedrooms

2.8

4

6.6

9.3(AED MILLION)

(AED MILLION) (AED)(SQ. FT.)


2,231

3,110

4,637

6,059

1,279

1,302

1,440

1,536

(AED)(SQ. FT.)


1,959

2,008

2,987

927

986

1,414

959

1,961

1,706

1,478

2,032

1,314

1,092

1,072

1,306

1,057

1,782

1,517

4,922

6,447

2,880

5,229

3,097

4,257

3,608

5,994

1,732

3,117

3,032

1,016

1,013

1,440

1,428

1,516

959K

1.7

3

4.4

8.4

4

BU

YU

AE

RE

AL

ES

TAT

E R

EV

IEW

Q2

20

14

ABU DHABI TOP 10 SEARCHED COMMUNITIES

UAE TOP SEARCHES

1

5

69

10

2

7

8

3

Apartment

500K - 1M 1M - 1.5M 1.5M - 2M 2M - 2.5M10M & MORE

Villa

58.69% 31.89%

UAE top searches by property type

2 BR 3 BR 1 BR 4 BR 5 BR

25.80% 19.82% 19.77% 12.94% 8.11%

UAE top searches by number of bedrooms

12.49% 12.4% 11.59% 11.55% 9.07%

UAE top searches by price bands (AED MILLION)

NEW

NEW

Al Reem Island

Al Reef

Al Raha Beach

Al Ghadeer

Saadiyat Island

Al Raha Gardens

Hydra Village

Al Raha Golf Gardens

Khalifa City

Mohamed Bin Zayed City

1

2

3

4

5

6

7

8

9

10

Highlights

The battle for the top spot between Al Reem Island, Al Reef and Al Raha Beach continues; Al Reem wins this time.

Al Ghadeer enters the top 10 this quarter; rise in appeal for the community as it did not make the list in Q2 2013 and 2012.

Mohammed bin Zayed City makes its entry in the top 10; did not figure in the list in Q1 2014 and Q4 2013.

Saadiyat Island moves up one spot since its Q2 2013 ranking. Nurai Island, part of the list in Q2 2012 and 2013, fails to make the top 10 this quarter.

ABU DHABI AVERAGE PROPERTY PRICES PRICE (June 2014)

APARTMENTS

Studio

1 Bedroom

2 Bedrooms

3 Bedrooms

4 Bedrooms

Al Reem Island

Al Reef

Al Raha Beach

Al Ghadeer

Saadiyat Island

Al Raha Gardens

Hydra Village


Khalifa City


1.9

1.3

2.4

810K

3.3

3

1.3

4.2

NA

NA

NA

2.2

10.3

2.1

12.1

4

1.3

5.4

10.4

11.9

Al Reem Island

Al Reef

Al Raha Beach

Al Ghadeer

Saadiyat Island

Al Raha Gardens

Hydra Village


Khalifa City



AVERAGEPRICE

PER SQ. FT.AVERAGE

SIZEAVERAGE PRICE

BY PROPERTY TYPE

AVERAGEPRICE

PER SQ. FT.AVERAGE

SIZE

1,340

1,479

1,420

1,381

1,427

514

910

1,405

1,986

2,665

VILLAS

2 Bedrooms

3 Bedrooms

4 Bedrooms

5 Bedrooms

1.5

2.3

4.9

7.8(AED MILLION)



1,806

2,477

4,006

5,547

822

918

1,214

1,412

(AED)(SQ. FT.)


1,483

901

1,559

1,054

1,627

794

690

1,018

1,250

1,425

1,553

769

2,022

3,812

1,860

4,126

2,561

7,000

2,016

7,533

3,577

1,871

4,913

3,499

4,647

852

1,470

1,046

1,614

1,128

687

1,101

2,984

2,557

689K

1.3

2

2.7

3.8

RE

NT

UA

E R

EA

L E

STA

TE

RE

VIE

W Q

2 2

014

DUBAI TOP 10 SEARCHED COMMUNITIES

Dubai Marina & Jumeirah Lake TowersDubai Marina & Jumeirah Lake Towers

1

5

3

2

4

8

7

Dubai Marina

Dubailand

Downtown Dubai


Palm Jumeirah


The Springs

Arabian Ranches


Dubai Sports City

NEW

NEW

1

2

3

4

5

6

7

8

9

10

6

9

10

Dubailand steals the show — grabs 2nd spot despite ranking 7th in Q2 2013 and 12th in 2012.

Al Barsha loses its place in the top 10 for the first time. The community was ranked 8th in Q2 2013 and 7th in Q2 2012.

From not making the top 10 in Q2 2013, Jumeirah Village Circle is now at 6th place. In Q2 2012, the community placed 9th.

Jumeirah seems to be losing its appeal. The area was ranked 6th in Q2 2012 and 9th in Q2 2013. This quarter, it fails to make the top 10.

Highlights

DUBAI AVERAGE PROPERTY PRICES PRICE (June 2014)

APARTMENTS

Studio

1 Bedroom

2 Bedrooms

3 Bedrooms

4 Bedrooms

Dubai Marina

Dubailand

Downtown Dubai


Palm Jumeirah


The Springs

Arabian Ranches


Dubai Sports City

166K

71K

172K

112K

201K

71K

Not Applicable

Not Applicable

198K

71K

306K

253K

286K

Not Applicable

582K

159K

173K

253K

Not Applicable

294K

Dubai Marina

Dubailand

Downtown Dubai


Palm Jumeirah


The Springs

Arabian Ranches


Dubai Sports City


AVERAGEPRICE

PER SQ. FT.AVERAGE

SIZEAVERAGE PRICE

BY PROPERTY TYPE

AVERAGEPRICE

PER SQ. FT.AVERAGE

SIZE

124

113

112

103

91

533

941

1,541

2,229

3,493

VILLAS

2 Bedrooms

3 Bedrooms

4 Bedrooms

5 Bedrooms

153K

221K

312K

344K(AED THOUSAND)

(AED THOUSAND) (AED)(SQ. FT.)


2,128

2,963

4,489

5,438

72

75

70

63

(AED)(SQ. FT.)


114

69

141

102

106

78

117

79

1,452

1,042

1,222

1,101

1,908

918

1,690

889

4,063

5,507

2,272

5,705

3,140

2,260

3,348

4,416

75

46

126

102

51

77

76

67

66K

106K

172K

229K

319K

RE

NT

UA

E R

EA

L E

STA

TE

RE

VIE

W Q

2 2

014

UAE TOP RENT SEARCHES

80K - 100K 60K - 80K 120K - 140K 140K - 160K 100K - 120K

Apartment Villa

65.10% 31.4%

UAE top searches by property type

2 BR 1 BR 3 BR 4 BR 5 BR

26.60% 21.50% 20.96% 12.11% 8.65%

UAE top searches by number of bedrooms

12.01% 10.46% 9.76% 9.56% 8.80%

UAE top searches by price bands

7

1

5

10

2

6

3

9

8

4

Al Reem Island

Khalifa City

Al Reef

Al Raha Beach

Al Khalidiya


Al Ghadeer

Corniche Road

Muroor Area

Al Raha Gardens

NEW

NEW

1

2

3

4

5

6

7

8

9

10

ABU DHABI TOP 10 SEARCHED COMMUNITIES

Highlights

Al Reem Island steals the spotlight from Khalifa City since Q1 2014; is Abu Dhabi’s most searched rental community this quarter.

Al Raha Gardens’ popularity has fallen. The area was ranked 8th in Q2 2013, this quarter it’s at 10th spot.

Al Ghadeer makes its entry the top 10 this quarter; a step up for the community as it did not figure in the list in Q2 2013 and Q2 2012.

Mohammed Bin Zayed City’s appeal seems to be rising. From not making the top 10 in Q2 2013 and Q2 2012, the community is now at 6th place.

ABU DHABI AVERAGE PROPERTY PRICES PRICE (June 2014)

APARTMENTS

Studio

1 Bedroom

2 Bedrooms

3 Bedrooms

4 Bedrooms

Al Reem Island

Al Reef

Al Raha Beach

Al Ghadeer

Saadiyat Island

Al Raha Gardens

Hydra Village


Khalifa City


122K

102K

91K

168K

160K

101K

55K

166K

140K

NA

Al Reem Island

Al Reef

Al Raha Beach

Al Ghadeer

Saadiyat Island

Al Raha Gardens

Hydra Village


Khalifa City



AVERAGEPRICE

PER SQ. FT.AVERAGE

SIZEAVERAGE PRICE

BY PROPERTY TYPE

AVERAGEPRICE

PER SQ. FT.AVERAGE

SIZE

129

106

100

94

88

504

873

1,385

1,932

2,708

VILLAS

2 Bedrooms

3 Bedrooms

4 Bedrooms

5 Bedrooms

105K

164K

253K

266K

(AED)(SQ. FT.)

(AED)(SQ. FT.)

1,769

2,622

3,694

4,073

60

63

69

65

(AED)(SQ. FT.)

(AED)(SQ. FT.)

100

97

75

108

98

48

89

104

111

1,213

1,053

1,207

1,548

1,634

2,110

619

1,590

1,265

2,450

3,857

2,634

5,835

3,754

3,346

1,981

4,080

3,025

3,324

112

63

54

67

73

68

61

113

88

67

65K

92K

139K

181K

239K (AED THOUSAND)

(AED THOUSAND)

(AED THOUSAND) (AED THOUSAND)

275K

243K

143K

390K

274K

228K

121K

460K

267K

222K

CO

MM

ER

CIA

LU

AE

RE

AL

ES

TAT

E R

EV

IEW

Q2

20

14

BUY TOP 10 SEARCHED COMMUNITIES

UAE TOP SEARCHESBY PRICE BANDS PERCENTAGE

1

2

3

4

5

28.90%

22.12%

6.70%

5.65%

4.60%

BUY

Business Bay


DIFC

Tecom

Dubai Investment Park

Dubai Marina

Jebel Ali

Dubai Silicon Oasis

Downtown Dubai


NEW

NEW

1

2

3

4

5

6

7

8

9

10

Dubai Marina’s popularity as a commercial real estate destination has increased; from securing 9th spot in Q2 2013, the community is now 6th in the list.

Jebel Ali’s appeal has declined; from placing 3rd in Q2 2013, the community is now at 7th place.

Dubai Silicon Oasis is emerging as a strong player; from not making the top 10 in Q2 2013, the community is now the 8th most searched area.

Jumeirah Village Circle enters the top 10, despite not securing a spot in Q2 2013.

Highlights

DUBAI AVERAGE PRICES PRICE (June 2014)

Full floor

Office space

Warehouse

10M & MORE

1M - 1.5M

500K - 1M

1.5M - 2M

2M - 2.5M

27.30%

14.61%

11.33%

11.33%

5.88%


AVERAGEPRICE

PER SQ. FT.AVERAGE

SIZE

11,937

2,431

68,251

(AED)(SQ. FT.)

18.3

3.4

18.7(AED MILLION)

Business Bay


DIFC

TECOM

Dubai Investment Park

Dubai Marina

Jebel Ali

Dubai Silicon Oasis

Downtown Dubai


4.9

3

12.3

21.5

18.3

14

32

2.1

22

19.1(AED)(SQ. FT.)

1,541

1,399

274

1,432

1,222

2,054

1,247

475

2,245

311

794

3,742

163

3,491

2,509

6,018

17,270

38,610

6,267

105,458

2,696

5,950

117,325

(AED MILLION) UA

E R

EA

L E

STA

TE

RE

VIE

W Q

2 2

014

CO

MM

ER

CIA

L

Dubai SkylineDubai Skyline

RENT TOP 10 SEARCHED COMMUNITIES

1

2

3

4

5

20.43%

18.49%

5.82%

5.28%

4.29%

RENT

From not grabbing a spot in the top 10 in Q2 last year, Deira has taken 7th spot this time.

Downtown Dubai is climbing up the ranks; from not being in the top 10 last year, the community is now at 9th spot.

In the top 6 in Q2 2013, Dubai Marina has dropped 4 places this quarter.

Sheikh Zayed Road has climbed 6 places since Q2 2013 to take 3rd spot.

Highlights Business Bay


Sheikh Zayed Road

Al Quoz

Tecom

DIFC

Deira

Jumeirah

Downtown Dubai

Dubai Marina

NEW

NEW

1

2

3

4

5

6

7

8

9

10

UAE TOP SEARCHESBY PRICE BANDS PERCENTAGE

500K & MORE

80K - 100K

60K - 80K

100K - 120K

40K - 60K

17.53%

12.41%

11.14%

8%

6.74%

Full floor

Office space

Warehouse

1.2M

286K

790K

10,689

2,639

18,932

117

109

42

(AED)(SQ. FT.)(AED THOUSAND)

Al Reem Island

Al Reef

Al Raha Beach

Al Ghadeer

Saadiyat Island

Al Raha Gardens

Hydra Village


Khalifa City


(AED)(SQ. FT.)

2,741

1,812

3,784

8,121

3,610

5,169

3,975

5,632

6,464

4,710

110

97

128

77

113

201

117

151

218

163

(AED THOUSAND)

302K

176K

482K

621K

408K

1M

463K

849K

1.4M

768K

DUBAI AVERAGE RENTS PRICE (June 2014)


AVERAGEPRICE

PER SQ. FT.AVERAGE

SIZE

propertyfinder.ae officePROPERTYFINDER FZ LLCOffice 1509, Shatha Tower, Dubai Media CityDubai, UAEPO Box 50954T: +971 4 454 8464F: +971 4 454 8463W: www.propertyfinder.ae

For media enquiries, contact:Anna [email protected]

ABOUT PROPERTYFINDER GROUP OF ONLINE PORTALS

Established in 2007, the propertyfinder group owns and operates market-leading real estate portals across the region. Available in both English and Arabic, our websites provide visitors with comprehensive search facilities covering residential and commercial properties, real estate news, home advice and buying and selling guides, while agents enjoy access to the region’s largest potential audience of property seekers.

Consumer experience is paramount in everything we do and this is reflected in the design, content and navigation of all our portals. Our current traffic statistics show us as a leader in the industry with 1 million visitors and 150,000 enquiries per month. Visits have grown by over 105% in the last 12 months and an impressive 298% in the last two years.

A winner of the ‘Dubai SME 100’ for the second consecutive cycle, the 2013 SMEinfo ‘Online Business of the Year’ and the Arabian Business Start-Up ‘SME of the Year’ titles and the ‘Arabia Fast Growth 500’ award in 2012 and with a presence in the UAE, Qatar, Egypt, Lebanon, Bahrain and Morocco, the propertyfinder group is one of the fastest growing companies in the region. The Group aims to be in a total of nine countries, with a focus on the GCC and other parts of the Middle East in the coming months.

To get additional information about this report or related topics, please contact: