Bright Spot Regarding Dubai Landlords as They Get Open to Bargains

Dubai residential landlords are going flexible in terms of their pricing and policies, according to what the leading real estate brokerages in the city say. The increasing supply of units in Dubai has given more options and confidence to the residents to try out those options of cheap rents on lease renewal. The landlords are gradually accepting the new reality and are ready to negotiate with the tenants.

The sales director of Aurum real estate Yash Shah says that they are getting flexible when it comes to the number of rental cheques which are usually 1-4 in number, but there are no incentives associated by the landlords to it yet.

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Four to six cheques are started to become common these days, however, it is not available on all the properties and sometimes a tenant has to pay a single cheque. There are very few cities globally which require a tenant to pay the rent of entire year in advance.

From the investment view point, multiple rent cheques shouldn’t be looked upon as a bad thing. It is the way a sound property market works right now. This is the way they can even get bigger returns on the investment. The property management service is attractive to tenants as they are aware that someone will always be there behind the issues.

For standing out in a competitive environment, some landlords are prepared to include the first rent of the month as free. The tenants of Dubai have the opportunity of renegotiating on the renewal as the landlords are easily affected by those negotiations.

If the landlords are flexible enough on a number of cheques they are taking, you can still get best returns on the properties. If you have a good tenant, then you should accommodate them as they deserve more than just the rent.

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Landlords that are practical and realistic for pricing and pay cheques aren’t the ones who are facing void periods of a long time on their properties. They have long gestation period which is the reason of more flexibility in renting prices and terms. Landlords are advised not to put numerous brokerages to find a tenant for their property because it is the reason for the owner to research the market and have some sensible marketing advice from an industry specialist.

More money can be earned if being close to the main area like downtown or Marina/ JBR despite the off instances of families downsizing. These areas get relative bargains. Relative to what was paid a few years ago.

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Categories: Dubai, News, Real Estate

Things to Look Out for When Buying Commercial Space in Dubai

Dubai’s positive growth robust economy has especially because of the strong sectors like retail, commercial and residential real estate, hospitality, tourism, logistics, etc. Because of growth in the trades, commercial real estate has gained impetus.

Dubai customs are reporting that non-oil has registered 6.1% of growth rate in last five years. Dubai industrial strategy is focusing on promoting manufacturing thus energizing the sector, further increasing the demand for logistics facilities and office space.

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Being the central hub for trade and transport, Dubai is connecting east and west, thereby giving space to high growth markets in south Asia and Africa. These are among the top choices for MNC’s who are trying to form their regional headquarters.

Expo 2020 preparations are going on in Dubai and has energized commercial property sector there. Positive queries regarding seeking business establishment and expansion can be seen. There are plenty of foreign investors who would like to form a basis for expansion of the operations as Dubai provides a gateway to new markets in the Middle East and Africa.

Investment Park Dubai has witnessed a significant growth in infrastructure development. However, commercial space demand is high because of its proximity to the city and high ROI.

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Dubai Marina and Downtown Dubai are most sought for retail space and getting high ROI. The nearby areas are highly preferred for office space because of its close proximity to business centers in the city. Both of these places are linked to Dubai metro and Dubai’s public transport. ROI is a factor to see for when choosing commercial real estate in Dubai. With this, several other factors need to be considered for buying decision. Considerations regarding this are researching for more knowledge about the location, developer and the project.

Buying decision should be evaluated on the basis of whether it is an investment or for personal business utility. Potential customers should also keep in mind the payment methods available and try to negotiate for managing their cash flow, particularly when invested for personal use.

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The kind of license of commercial end user and the nature of business activity must be considered for all the projects. The areas which offer maximum exposure for one’s business need to be chosen. Several businesses today shifts in bespoke office design as per their brand values, identity and outlook. With the vision kept in mind of the future growth, the space needed for the business should be selected. It is preferable to invest in larger areas which help in achieving efficiencies of scale.

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Lively and Adaptable Home Designs which Amplify the Lifestyle

Adaptive layouts and design elements have been used extensively recently to improvise the convenience and lifestyle well-being this year, be it offices or home. People don’t want to remain fixed over one type of furniture but rather want to go with bold and experimental one which can be moved around in order to match with the changing surroundings, seasons and preferences of design, after-all grate designs are always appreciated in Real Estate sector.

Accessories

Accessories

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Velvet curtains and seating are trending nowadays. Long elegant fabric pieces are also used for dividing rooms which look like curtains. They are semi-sheer and lightweight & look like a net. Layering rugs are also options for people. Bold lighting with pastel shades goes with multifunction & modular furniture. Metallic accessories and innovative flower vase will remain common.

Wall colors

Wall colors

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Bold and moody tones are in trend for wall textures and colors. Green makes an attractive summer color and was embraced by people in UAE houses because it gets enough natural light and is considered to get required sunshine all along the year.  Set against other commonly used shades of furniture, it is a neutral as well.

This unique color adds a rejuvenating effect and at the same time exudes a sense of calm and peace which is the perfect blend for urban dwellers in any city.

Choosing textures cutting the boredom

Choosing textures cutting the boredom

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From televisions to Smartphones, sleek look and flat designs are growing in trend along with shinier and smooth surface. Though there is a market for these in interior design, rising trend of palpable textured finish like linen, wood and marble finish in wall paint are favorites of most of the people who fancy displaying their furniture in a dramatic setting. It’s the texture which makes the style statement and color remains neutral.

Texture also matters in sofa cushions and furniture. The feel it gives and the touch it provides the visitor the first impression. People get savvy with it while choosing the fabric. For expressive sofa fabrics, velvets and shiny leather work well.

Floral

Floral

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Versatile nature of flowers never goes out of fashion and it makes room for the experiment also. This year, silk flowers, unidentified from original ones will remain in focus this year and hence will provide the touch of flexibility while choosing accessories. Polyester made decorative flowers are easier to maintain the current lifestyle. They can be cleaned easily. Using it with glass vases will add to the flexibility and will also complement the surrounding area irrespective of where it is kept in.

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Top 5 Rental Negotiating Tips to Gain a Upper Hand

Head towards the negotiating table if you like the house but not the rent that you are being charged with. There are several ways to head towards the direction of negotiation and gain an upper hand. Following are the ways in which convincing can be used against the landlord to lower the rent rates:-

  1. RERA Rent Index

Being managed at right intervals frequently by Dubai land department, it displays average rent for all communities in Dubai. It tells you by how much the rent will increase by your landlord and by which percentage. So, track the index for knowing the official numbers before you discuss it with your landlord.

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Picture Courtesy: blog.propertytime.ae
  1. Measure The Expectations

Know the prevailing rents within your community. Browse the listings of the Real Estate property portals. Make calls and check with brokers regarding market rents. So when you are renting the property, you can discuss with your landlord the rents prevailing in other buildings for the same.

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Market statistics and recent news awareness regarding trends of rental markets in the city and community will aid in your bargaining position. If a developer announces a new apartment construction tower beside you, you can give reasons on why you would want to put up the construction and noise if he agrees to lower the rent.

  1. Be a Good Tenant

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Maintain a good renting track record for as long as you reside in the property for it may come handy in the negotiation of rentals. Elaborate to your tenant that why you are a good tenant. Make them know that you have taken good care of the property and not damaged anything for that matter in any way and also have made repairs when required. Don’t leave any opportunity in telling them that you deserve a reduction in the rents.

  1. Let Go Of What You Don’t need

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If you have a parking space along with your renting apartment, but you don’t own a car or not planning to buy one in the near future, you can use this as bargaining spot. Offer to give up parking space, which can be offered to any other family which owns two cars. In turn, you can convince the landlord in lowering the next rent.

  1. Act As If You Are Going To Leave

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If everything fails, you can treat them about vacating the property as soon as your lease will get over. The rental market which is going through a down phase, this is not going to be the best news for anyone. Your landlords would not risk it with new communities coming over the city with low rents. This will prove to be the last tip for negotiation for you.


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Categories: Dubai, Real Estate

Dubai: A Hotspot For Investors In Terms of Rent And Returns

Dubai, from its beginning as a fishing port has transformed into a global genius today. By defining the terms and extraordinary to capture the world, Dubai has glamour and grandeur as it creates the first, biggest and largest development in the world.

Tallest skyscraper, grandest hotels and longest automated network of metro truly makes Dubai a world of wonders. Dubai has become the tourism and business hub along with becoming home for millions of residents who celebrate in its lifestyle approach. By mixing the unique hotspots for entertainment, luxuries, capital status, golden sandy beaches, Dubai offers a dream living.

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UK visitors have increased because of Brexit and subsequent 20% of currency devaluation. Overnight visitor’s record also goes to Dubai in 2016 with 14.9 million, which is a 5% increase from 2015. 25 million visitors will be there by 2020 and for the third consecutive year, Dubai International Airport will rank the busiest in the world.For 3.5 billion people, Dubai is the commercial capital from its Indian subcontinent, Middle East and Africa. Around 40% of the global population consists of them. And most recently Dubai has become the main hub for world’s wealthy property investors. Its attractive real estate investment market ranks second in the world for high net worth individuals, after London.

Dubai International Airport

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The transactions for real estate in Dubai has shoot up to Dh77 billion in 20,000 deals in the first quarter of 2017 which is a 45% of rise as compared to previous year, according to Dubailand Department.

Series of mega projects have been launching in the emirate and the property sector will see a ramp up in 2018, because of growing demands for new apartments, prior expo 2020.  There are 400 active projects worth 312.6 billion which sets the stage for Dubai’s solid growth in the construction sector.

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Dubai properties offer the world’s best investor return in terms of rent and appreciation as compared to 75% in London and 63% in New York. Around 20-30% of real estate appreciation annually is enjoyed by Dubai as it offers high yields of about 7 to 10% on rentals and to other major cities of the world. Borrowing from the bank for home loans and mortgages is at 4%. So even if anyone borrows, he she still makes 6% on an average per year which makes a valid reason for people to buy the properties in Dubai and have sided income from rents while the property keep increasing in value.


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Categories: Dubai, Real Estate

Things to Look for while Moving Houses in Dubai

Summer is an ideal time for the people who want to move within the city. This process when can’t plan can get stressful. Follow the following steps to be able to stay organized while the process of moving.

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  • Stay in contact with the moving companies that have got a license. They need two weeks before you start to move. Compare the rates and services before finalizing a provider.
  • Your current water, telephone and gas connections should be informed before a week in advance. Don’t forget to contact providers for your new home connections.
  • Some communities and apartments in Dubai require tenants moving in and out to get permits. Some need to submit a contract of tenancy and service fees has to be paid. For avoiding delays in moving, ensure that you and your landlord are clear of any outstanding charges.

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  • While moving out, restore your old home into the new, in its original condition, which means getting it cleaned & painted. If you don’t leave it like this, the landlord has the right to withhold a portion of the deposit.
  • Make sure your moving service provider labels all your boxes which make it easy for you to set up later in your new home. Take small bags having the things you need for first few days in your new home.
  • During packing, you realize that you don’t need things that you no longer use. Put up a sale of your stuff that you don’t use if you have time. You can also hold a small garage or put it up on online apps. For the ones you either don’t want to sell and don’t want to keep, consider a storage facility where you can keep it. It will be safe and secure.
  • After you painted your place and moved out, ensure your full deposit. If you are giving back your home in the same condition as you get it, then no charges should be withheld.
  • If there are children with you, involve them from the start in the process. For instance, give them a box and ask them to fill it with their toys and belongings. For making it less stressful for them, hire a babysitter for a day or two for moving.

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Make sure you tick each task on this list as you achieve it. This will help give you an idea of how productive you become. This agenda will also let you avoid unpleasant experiences like entering into a new home without any connections for power, water, etc.

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Categories: Dubai, Real Estate

Provide Your Home a Luxury Twist. Here’s How…

Past few years have a total influence of hospitality design trends. Experts adopted a luxurious way for residences in making comfortable furniture, durable materials and low maintenance for natural elements and automated home. The concept of stunning residence in Dubai is now rapidly increasing featuring with lobbies, richly textured filled furniture, waterfall showers, commercial kitchens, spas, Jacuzzi, lounge area and what not. All inspired by hospitality design extensively used for effective instead of expensive resources.

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 This concept has traveled through expensive to a modern minimalist approach to smart goals aiming for creating long lasting impressions.

Artistic designs and furniture and fixtures features have started to be incorporated into some classical main points like dining rooms, bathrooms, and kitchens. People have now started to look for relaxation options throughout their living spaces. Because of this, focus on bathrooms on par with living rooms has increased. The color palette, details of accessories and metal trimmings are the key elements to be focused on for sleek finish and clean look.

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Picture Courtesy: www.stevewilliamskitchens.co.uk

Design Inspiration

Start according to your lifestyle & preferences. Know if you are inspired about trendy design movements across the city or internationally or by design blogs and websites. Pinterest and Instagram also have better options to look at.

Design Firm

Transform your creative ideas to a high standard living which suits your expectations. There are things that you will need to look for. For example if or not the design firm reputable? Are they familiar with high standard living styles, what project scales they use, their approach and use of international standards? Design materials usage, trends and their capability to draw and execute the project from initial sketch until handing over the project.

The Process of Design

A design company will first work with a client to elaborate the main concept of living space followed by development and detailing of the areas on the basis of functionality, choosing a color palette, fabrics, textures and dialogue on fixtures, furniture, and equipment.

A texture is a prominent element within the architecture of the building. Using fabrics in texture can provide comfort, can soften spaces and can be a key factor in creating the contemporary and classical moods.

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Additionally, the textures can be used within the designs including floors, walls and surfaces and can be perceived differently which depends on the applied texture. Now there is an advancement in the production technique and manufacturing technology but in the past, the three-dimensional textures were difficult to produce. This allows the designers to be more expressive in the interior architecture.

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Categories: Dubai, Real Estate