July 2023 Maple - 3 Bedroom Maple Dubai Hills Estate - MARKET UPDATE
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- čas přidán 12. 09. 2024
- A look at the market in Dubai Hills with an overview of the Maple 3 Bedroom 2M property rentals and sales over the last 13 weeks.
Feel free to get in touch if you have any questions.
Luqman
Director - Irwin Real Estate
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Great video - very analytical and it’s interesting to see the recent rent prices for Maple 3 compared to 1,2? However, agents are pushing 230k + for these 2M units and they seem to be sat around and listed with many agents. When raising the property transaction data they say this is what the landlord wants. Surely this method of pricing is counterproductive to the market and short sighted ?
Firstly thank you for watching the video, i am glad you got value. Rental prices are generally the same between maple 1-3 as there is not a lot on the market for rent. 220-230k is what i am seeing as a running average for new rentals in maple for a 3 bed. There will be many renewals at lower rates but that is not an indication to the current rental value. Yes you will get some landlords that demand higher rates and these units will sit on the market for extended periods of time until the price is reduced to a point that a tenant is ready to take action against it.
@@dubaiwithla The age old law of supply and demand I guess..!
Supply and demand will continue to be the rule. With less supply people will just pay more. If there is something that arrives in the area (development) that is comparable then supply will increase and then prices will naturally come down. Unless of course the demand increases in parallel. @@tjw198
Finally the first I heard mentioning a correction.
Can’t be sunshine and rainbows forever. At some point the market will correct if we keep seeing prices move up aggressively. An ideal situation would be for us to see the market slow and settle, that to me would indicate health.
Thanks for watching
a correction is the best thing that can happen during a bullish market, otherwise is just an usual pump and dump @@dubaiwithla
@@ldm1411 time will tell as always