The February 2017 figures of ValuStrat build
Dubai residential VPI. VPI means ValuStrat Price Index. There was another
feature. It mentioned:
Price of residences in some:
1.
Affordable
2.
Mid-end
Locations were rising. However, the
overall picture wasn’t rosy. VPI showed overall residential prices decreased.
The 2014 peak estimated this decrease by
14%. Softening capital values did it.
This development visited prime locations. VPI was monitoring those areas.
The comprehensive cycle in residential
properties is in its low position in
Dubai. However, prices didn’t dip steeply. It means a good omen. Investments
prospects are bright. It is a perfect
investing time.
VPI keeps an eye on 26 localities. Dubai
Marina too
is monitored. Dubai Marina becomes Marsa Dubai in the Arabic language. These 26
localities see prices stabilizing now. Prices had fallen 11.4% from the peak. This
peak had happened in 2014. Last year saw a 1.9%
decline. When 1.9% decline is compared with 11.4% fall, 1.9% appears a good
omen.
Presently, Dubai Maria is the greatest
freehold community. Important reasons are:
1.
Being strategically located
2.
Excellent transportation facilities.
Some manifestations of said facilities are:
a.
Dubai Metro
b.
Dubai Ferry
c.
Dubai Tram
3.
Causing 21% of all apartment sales
4.
Presence of high-rise buildings
5.
Housing about 35,000 souls
6.
Including the tallest residential towers.
These are:
a.
Princess Tower
b.
Marina 101, also known as, Dream Marina
Tower
7.
Presently, 22,000 residential units are
ready. The dawn of 2020 will add 3,450 units further.
Different housing solutions exist in Dubai Marina. Following lists those on the percentage scale.
These are
estimated figures.
1.
The ratio of studio apartments is 5%.
2.
The ratio of single bedroom apartments
is 35%.
3.
The ratio of 2-bedroom units is 36%.
4.
The ratio of 3-bedroom units is 20%.
5.
The ratio of 4-bedroom units is 4 %.
The VPI of February 2017 awards 97.4
points to Dubai market of residential properties. June 2014 had given 112.9
points. 112.9 was the highest figure. The Dubai Marina got 105.4 points from
VPI in 2014. The present point score of Dubai Marina is 93.3, according to VPI.
Present
asking price range varies in Dubai Marina. The asking price of:
1.
An unfurnished studio apartment
2.
Located in DEC Towers
3.
Having a 600sf
area
hovers at DAE700, 000.
On the other hand:
1.
A sea view apartment
2.
With four bedrooms
3.
Located in Le Reve
4.
Having 6,307sf area
has an asking price of DAE20,000,000
Presently, a 1,305sf area in Marina Dubai costs DAE14,407. It is 1.23% higher
than in Median of city. Asking rents of:
·
One-bedroom apartments
·
Two-bedroom apartments
·
Three bedroom apartments
in Dubai Marina
grew 2.5% per annum. Its quarter wise increase
was 4.4%. Furthermore, asking rents of studio apartments with:
·
One bedroom
·
Two bedrooms
rose 10% higher than what latest Rera
Rental Index showed.
1 The yield of price-to-rent ratios of high-end
apartments for 19 years is 3.4%.
2 The yield of price-to-rent ratios of:
a.
Typical
b.
Mid-range
c.
Highly sought after
is 4.3% for 16 years.
3 The yield of price-to-rent ratios of:
a.
The least desired apartments
b.
With inferior
views
is up to 4.4% for 14 years.
The
budget of 1,000,000 UAE Dirhams can buy a single bedroom apartment:
·
This is
unfurnished
·
With 922sf or 85.6sm area
·
Located on high floors
·
Giving views of Sheikh Zayed Road
The
amount of 2,000,000 UAE Dirhams can buy a 2-bedroom apartment:
- This will
be unfurnished
- Giving partial sea views
- Having 126sm or 1,360sf area
The
amount of 3,000,000 UAE Dirhams can buy a high-end 3-bedroom apartment:
·
Giving views of the sea
·
Views of Palm Jumeirah
·
Having 189sm or 2,037sf area