Dubai, UAE - April 18th, 2009:
In a follow up to a leasing price guide recently released, Landmark Advisory has issued a sales price guide for Dubai for clients to reference when looking at property in the market. As one of the leading real estate consultancy companies in the Middle East, Landmark Advisory is adamant on adding greater transparency in the UAE market as there are limited market players stepping forward with information for the public.
"We have witnessed a price drop in the market that while continuing is showing signs of stabilising in certain locations. Sales prices vary markedly between locations ,and we are focusing on producing monthly reports to accurately portray the market and be as relevant as possible to our clients using our guides as a reference when purchasing a property" explained Charles Neil, CEO, Landmark Advisory
According to Landmark Advisory, average prices one year ago declined 23% for a Springs townhouse from AED 1,100 ft22. For a medium-range quality one-bedroom Marina Apartment prices declined 32% in the past year from AED 1,696 ft2 to AED 1,172 ft2.
"Prices in our sales map are taken from actual transactional data sampled at the end of Q109 transactions."added Neil. "There has been a high demand for this information from our clients and investors, and we're on track to frequently produce these maps to empower clients with the knowledge to make sound property decisions in this market."
Landmark Advisory published leasing price maps in March to guide tenants on how to aggressively negotiate with landlords for fair market values. The leasing and sales maps are accessible on the Landmark Advisory website, www.landmark-advisory.com, as well as Landmark Properties website, www.landmark-dubai.com.
About Landmark Advisory
Our mission is to leverage the synergy created by our talented consulting team, unique market position, and network of specialists to supply superior real estate consulting services. High profile private and governmental organizations have engaged Landmark Advisory for expert advice ranging from fund & portfolio management to feasibility & market research analysis.
Based on worldwide strategic alliances with best-in-class institutions, we have unparalleled access to
specialized data about market dynamics affecting both sides of the buy & sell equation. In addition, our real-time transactional database provides a direct view of the current market cycle.
For further information, kindly contact: