The markets in the Middle East are pretty jumpy at the moment, with political instability across the region, the sliding oil price and Dubai’s real estate market going into reverse. In these turbulent seas only a few islands of calm remain, and Abu Dhabi is one of them. With its solid political systems and vast oil and cash reserves there are few storms Abu Dhabi cannot weather. The emirate has an often...
Home ownership rates in Europe vary from Germany at 53% all the way to Romania at 96% (the USA is 65% and India is 86%). Most of the world owns their own home and they do that because it makes financial sense, even here in the UAE, and here is why. This is a brief summary, for the full guide please visit our website library here. Reason One – Inflation Proof Investment Inflation in the third quarter...
Abu Dhabi Law 19 of 2005 did two things, firstly it allowed Emiratis to buy and sell land (they had not been allowed to do this before that date), and secondly it created the notion of “Investment Areas” in which property can be “owned” by non-UAE Nationals. No-one apart from UAE nationals (or companies wholly owned by them (not just 51%)) can own property outside Investment Areas (which are Reem...
Fancy your own private jetty? What about an exclusive island villa? We take a look at Abu Dhabi’s most luxurious residential developments. Now where did we put our checkbook? The Hills Few have heard of The Hills development near the Grand Mosque and the Armed Forces Officers Club and even fewer know the complex is home to luxurious five-bedroom villas. With sweeping staircases and stunning hallways,...
This article originally featured in Abu Dhabi Week in January 2014. It is written by Ben Crompton a former lawyer and current managing partner of Crompton Partners Estate Agents LLC. So when it comes to residents’ questions about and lord’s obligations and the rules on subleasing, he’s your man. Read the original article in Abu Dhabi Week here I’m about to move into a new property. What...
1. The Market in the UAE Expatriates can buy in several areas in the UAE, namely Saadiyat, Reem Island, Raha Beach, Al Reef, Hydra and al Ghadeer, these areas are discussed in more detail in our “Guide to Buying Property in Abu Dhabi”. Visit our entire Guide Library here. Like the rest of the world Abu Dhabi’s housing market peaked in 2008/9 and then went through four years of consolidation...
Renting in Abu Dhabi is full of mis-information, smoke and mirrors to catch the unwary. Here is your complete guide, step by step, to renting a property. Never be confused again. This is an abbreviated version of the guide, for the full guide please email guides@cpestateagents.com. When To Start Looking - The best time to start looking will be a month to three weeks before you want to...
The Abu Dhabi rent cap was first introduced in 2006 by what has become known as the Tenancy Law. Set at 7 per cent per year, it meant tenancy agreements coming up for annual renewal could only be subject to a maximum 7 per cent rent increase. This was later tightened to 5 per cent in 2010 to combat rental rates that were spiraling out of control because of an expanding population and very little...
A Tail of Two Cities Abu Dhabi and Dubai are two cities with vastly different personalities united by common cultural ideals and practises. Their real estate markets have also reached different points in their cycles and when considering the property market in the UAE these two giants may be brothers, but need to be treated as individuals. Dubai is witnessing a slowdown and perhaps a peak in sales and...
How has UAE law changed over the years for expats buying property? The law has remained the same since 2007 but the process has been refined. Property developers are now more sophisticated when it comes to conducting the sales process and registering the sale. In Abu Dhabi, a process has evolved which sees buyers make an offer by signing a Memorandum of Understanding (MoU) and handing over a deposit to...
