Property insights revealed at Arabian Business Conference

Wednesday, May 22, 2013

Ryan Mahoney, CEO of Better Homes

Ryan Mahoney, CEO of Better Homes, provided expert insights into the Dubai property market today, at the annual Arabian Business Conference held at JW Marquis Hotel.

 

Mahoney emphasised to attendees and media that investors can seek out good opportunities amid this upturn by focusing on yield, not capital gains.

 

Below are a summary of his key findings:

Residents consider Dubai their home, are considering buying

  • Better Homes conducted the ‘My Home, My Neighbourhood’ survey, to understand what Dubai residents feel about living in Dubai
  • The survey received 1400 respondents from across Dubai and found 83% consider Dubai their home
  • The rental market is strong in Dubai, with 88 percent of those surveyed renting here in Dubai and 12% own their own homes
  • However, consideration to purchase property is high, with 58% having thought about buying in Dubai. The main reason to buy was to save on rent, and the main detractor to buy was the perception of property prices

Smart investors in Dubai look at rental yield

  • Mahoney encouraged investors to focus on rental yield income than capital gains when looking at what makes a good investment in Dubai
  • Dubai rental yield is above 7%, performing better than most international cities such as London, New York and Singapore.
  • Mahoney advised that sales prices in Dubai are increasing at a fast rate than rental prices, which means rental yields are thinning out. However, rental yields are still more attractive than these other markets.
  • The affordable markets in Dubai – Discovery Gardens, Jumeirah Lake Towers (JLT) and International City – were found to have the best rental yield for investors

Better Homes will release more insights into the property market in the coming month.

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