Dubai: If all goes as per developers’ plans, Dubai will see a further 163,840 properties being built over the next five years from 387 projects. Next year could account for the highest number of these handovers, at 27,360 units, based on broad estimates put out by fam Properties. The year after could see 19,850 units and 17,754 further homes in 2020.
So far in 2017, Dubai has seen the launch of 90 projects consisting of 36,556 units. “We took this initiative because we want our investors and buyers to have a more accurate picture of the Dubai property market by being able to analyse facts and figures in a new way,” said Firas Al Msaddi, CEO of f?m Properties. “This is something they’re eager for because it will help to make buying decisions based on facts and figures and is ultimately more profitable.”
The online tool also provides comparisons on the change of rent over time. Investors or end users keen to assess rental yield potential can take advantage of a rental range index which pinpoints rates over 10 years.
Although rental rates for the same category of apartments in the same area have varied greatly based on size and location over 10 years — a major factor in the buying decision — the gap has closed significantly in the last two to three years. Two-bed apartment rentals in Downtown Dubai ranged from Dh150,000-Dh260,000 in 2009 and reached a low of Dh95,000-Dh120,000 in 2012. In December 2016, rates were at Dh160,000-Dh180,000.
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