Blog | Christie’s International Real Estate Dubai

Stay up to Date with the Latest In UAE’s Lifestyle News, Property Market Updates and Visa Regulations

Property Market Performance Q2 2021

Dubai recorded 6,388 property transactions in June 2021 at an aggregate value of 14.79 billion AED, the highest volume of monthly sales registered in 8 years. The value of property transactions in Dubai has risen by 48% in comparison to Q1. Commercial property transactions have climbed in value by 42%, while the luxury market experienced....

l property categories, measuring 20.26% and 76.9% higher in total quarter-on-quarter. <br><br> Palm Jumeirah achieved a record 4.27 billion AED in transaction value this quarter, maintaining its Q1 position as the community with the highest value of property transfers. <br><br> After Palm Jumei

First quarter of 2021 reports low rent

ValuStrat, a leading consultancy firm in the Middle East, released real estate market reports for the first quarter of 2021, which ascertained that Dubai residents have experienced an 11% drop in year-on-year rental prices. However, the company has reported that the declining percentage figure is reflective of heightened competition in the marke....

ng an increasingly steady market. </p> <br> <p>As leading property development companies across the country share projects, which amount to a significant introduction of new properties throughout the year, industry experts believe that rental prices will continue to stabilise post-pandemic rather

UAE Based Bank Accounts for Non Residents

As a luxury destination that attracts millions of tourists every year, and a haven with wholly respected and implemented COVID-19 safety measures, Dubai has continued to welcome an increasing number of non-residents who are now choosing to extend their stay in the popular seafront city. In light of this, a burning question for non-residents is whet....

note. The majority of banks will only offer non-residents the ability to open a savings account with access to a debit card for withdrawal and no cheque book. The procedure may take longer than it would for a non-resident due to the extra documentation and approval requirements and the account hold

Introducing the Mollak System

With innovation leading the city’s progress, Dubai has introduced a platform that allows joint property owners and Dubai Land Department to regulate, pay, monitor and access property-related service charges. The Arabic translation for the word ‘owner’, Mollak was built by the Real Estate Regulatory Authority (RERA) to simplify home....

. <br><br> A new process that prioritises speed and convenience; the Mollak framework is intended to create 4 invoices every year, customarily one invoice per quarter based. Any outstanding balances will be uploaded onto the platform through the Owner Association (OA) manager (e.g. Kingfield, Saga