{"id":7926,"date":"2018-07-03T11:03:47","date_gmt":"2018-07-03T07:03:47","guid":{"rendered":"http:\/\/middleeastevents.com\/blog\/?p=7926"},"modified":"2018-07-03T11:03:47","modified_gmt":"2018-07-03T07:03:47","slug":"prices-reduce-presenting-ample-opportunities-for-renters-and-investors-bayut-com-h1-2018-report","status":"publish","type":"post","link":"https:\/\/www.middleeastevents.com\/blog\/prices-reduce-presenting-ample-opportunities-for-renters-and-investors-bayut-com-h1-2018-report\/","title":{"rendered":"Prices Reduce, Presenting Ample Opportunities For Renters And Investors &#8211; Bayut.com H1 2018 Report"},"content":{"rendered":"<p>The cost of renting and buying property in Dubai has decreased since H2 2017, but most price falls remain modest, according to the recently released\u00a0<a href=\"https:\/\/wpyadmin.ne.cision.com\/l\/qpbdrbcbe\/www.bayut.com\/mybayut\/h1-dubai-real-estate-market-report-2018\" target=\"_blank\" rel=\"noopener noreferrer\">H1 2018 market report of Bayut.com<\/a>.<\/p>\n<p>Rental highlights:<\/p>\n<ul>\n<li>Rental price decreases were modest for the most part, with a maximum average decrease of\u00a010%\u00a0in most areas, with the exception of 1-bed apartments in Deira which fell by\u00a015.38%.<\/li>\n<\/ul>\n<ul>\n<li>Dubai Marina\u00a0was the most popular for apartment rentals, with\u00a0Marina Diamonds\u00a0receiving the highest percentage of searches in the area.<\/li>\n<\/ul>\n<p>Sales highlights:<\/p>\n<ul>\n<li>Prices dropped but decreases were modest.<\/li>\n<\/ul>\n<ul>\n<li>Dubai Marina\u00a0was also the most popular for apartment sales, with\u00a0Manchester Towers\u00a0receiving the highest number of searches.<\/li>\n<\/ul>\n<p>Apartment rentals<\/p>\n<p>Apartment rentals witnessed some of the steepest falls of all sectors in H1 2018 as compared to H2 2017. After\u00a0Deira, the next steepest price decrease was for 2-bed apartments in\u00a0Dubai Sports City, which was\u00a010.59%.\u00a0Remaining decreases were between\u00a02-9%.<\/p>\n<p>Apartment sales<\/p>\n<p>In Dubai Marina, decreases in sales prices were around the\u00a05%\u00a0mark for 1-bedroom and 2-bedroom apartments.<\/p>\n<p>Villa sales<\/p>\n<p>There were falls in average villa sales prices across the board, apart from some stability in\u00a0The Villa, where the average sales price for a 5-bed villa remained the same at\u00a0AED 4M. 2-bed villas in\u00a0Jumeirah Village Circle (JVC) also remained stable at\u00a0AED 2.4M.<\/p>\n<p>Average prices in top areas<\/p>\n<p>In\u00a0Dubai Marina, which was the most popular area for apartment sales and rentals, the average cost for renting a 1-bed in the area was AED 87k. In sales, the price for a studio reached AED 850k.<\/p>\n<p>For villas, the most popular area for rentals, was\u00a0Mirdif, where the average price for a 3-bedroom property was AED 120k. In sales,\u00a0Arabian Ranches\u00a0was the most popular area, and the average price for a 3-bed villa fell by\u00a06.25%\u00a0to AED 3M.<\/p>\n<p>Most popular sub-communities<\/p>\n<p>In terms of the sub-communities, there were clear favourites among Bayut users. For example, searches for villas\u00a0in Al Reem\u00a0made up more than\u00a030%\u00a0of sales searches in\u00a0Arabian Ranches.<\/p>\n<p>European Cluster\u00a0received the highest percentage of searches in\u00a0Jumeirah Islands, with\u00a054.44%\u00a0of searches, followed by\u00a0Mediterranean Cluster\u00a0with\u00a018.39%.<\/p>\n<p>Al Reem\u00a0was also the most popular in\u00a0Arabian Ranches\u00a0for renters, accounting for more than\u00a040%\u00a0of searches,\u00a0and Jumeirah 1\u00a0was the most popular of the\u00a0Jumeirahsub-communities.\u00a0Legacy\u00a0villas in\u00a0Jumeirah Park\u00a0received by far the highest volume of searches for both renters and buyers at more than\u00a060%.<\/p>\n<p>Popular off-plan projects<\/p>\n<p>In the off-plan sector, there were also clear favourites among Bayut users looking to invest in Dubai.\u00a0Sidra Villas\u00a0was the most popular project in\u00a0Dubai Hills Estate, accounting for\u00a035.8%\u00a0of searches.\u00a0MAG 230\u00a0was the most searched development in City of Arabia.<\/p>\n<p>In Damac&#8217;s high profile\u00a0Akoya Oxygen\u00a0development,\u00a0Avencia\u00a0was the most searched project. In\u00a0Dubai South City,\u00a0EMAAR South\u00a0took the top spot, with\u00a045.08%\u00a0of all searches, followed closely by MAG Group&#8217;s\u00a0MAG 5 Boulevard, which received\u00a042.93%.<\/p>\n<p>In\u00a0Dubailand, Villanova\u00a0was by far the most searched development, with\u00a087.79%\u00a0of searches, and in\u00a0Mohammed bin Rashid City, District\u00a0One was the most popular, receiving\u00a041.4%.<\/p>\n<p>Haider Ali Khan, CEO of Bayut, said: &#8220;The average property price decreases in Dubai from H2 2017 are in line with what we foresaw last year. We are seeing that renters and buyers are still firmly in the driving seat, with renters likely to bargain with landlords to negotiate a lower rent, or upgrade by moving to a larger property or a new area. The decreases in sales prices open up opportunities for buyers too.<\/p>\n<p>&#8220;Whether you are renting or buying, it is definitely a good time to make a move in the Dubai property market.&#8221;<\/p>\n<p>Forecast for Q3 2018<\/p>\n<p>Khan added: &#8220;The summer months tend to be busy with people looking to rent a different place and lines up well with a break in the school year. I believe we may see more first-time buyers coming into the market, people who traditionally would have just rented a different place might consider buying given the lower prices. As we move into the later half of the year, we expect the prices to hover around where they are right now and for the serious parties, there will be great opportunities to invest at good price points.&#8221;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-7928\" src=\"http:\/\/middleeastevents.com\/blog\/wp-content\/uploads\/2018\/07\/bayut-300x127.png\" alt=\"\" width=\"300\" height=\"127\" srcset=\"https:\/\/www.middleeastevents.com\/blog\/wp-content\/uploads\/2018\/07\/bayut-300x127.png 300w, https:\/\/www.middleeastevents.com\/blog\/wp-content\/uploads\/2018\/07\/bayut.png 313w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7927 size-full\" src=\"http:\/\/middleeastevents.com\/blog\/wp-content\/uploads\/2018\/07\/byt.jpg\" alt=\"\" width=\"1400\" height=\"2476\" srcset=\"https:\/\/www.middleeastevents.com\/blog\/wp-content\/uploads\/2018\/07\/byt.jpg 1400w, https:\/\/www.middleeastevents.com\/blog\/wp-content\/uploads\/2018\/07\/byt-170x300.jpg 170w, https:\/\/www.middleeastevents.com\/blog\/wp-content\/uploads\/2018\/07\/byt-768x1358.jpg 768w, https:\/\/www.middleeastevents.com\/blog\/wp-content\/uploads\/2018\/07\/byt-579x1024.jpg 579w\" sizes=\"auto, (max-width: 1400px) 100vw, 1400px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cost of renting and buying property in Dubai has decreased since H2 2017, but most price falls remain modest, according to the recently released\u00a0H1 2018 market report of Bayut.com. Rental highlights: Rental price decreases were modest for the most part, with a maximum average decrease of\u00a010%\u00a0in most areas, with the exception of 1-bed apartments [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/7926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/comments?post=7926"}],"version-history":[{"count":1,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/7926\/revisions"}],"predecessor-version":[{"id":7929,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/7926\/revisions\/7929"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media\/7928"}],"wp:attachment":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media?parent=7926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/categories?post=7926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/tags?post=7926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}