Highlights include:
- New Market Demand Data, first of its kind in the MENA region, reveals where and what types of properties consumers are looking for
- Data Finder, a data and analytics platform under the Property Finder Group, is being offered free for a month to all real estate professionals in the UAE including newly launched market-first release of proprietary search and demand data
- Dubai Marina and Downtown Dubai are most popular in site searches, sales and rental
Dubai: Consistently ahead of real estate trends, Property Finder - the region’s leading property portal - has launched market demand data, in a bid to further empower the market with proprietary data intelligence.
The latest data collected by Data Finder, a data and analytics platform under the Property Finder Group, unveils where the emirate’s current property hotspots are, and enables everyone to gain a complete market overview in terms of search-lead intelligence. The latest search, sale and rental data figures available – for February 2020 – show similarities in the most popular areas searched for by both renters and buyers. Topping both lists are the modern skyscrapers of Dubai Marina, followed by the luxurious apartments and villas on offer in Downtown Dubai.
The Data Finder platform will be offered for free for one month to any real estate professional to give clarity and insights into the current property market.
Ari Kesisoglu, Property Finder’s President, said: “Sharing our comprehensive local market data provides an extremely useful barometer of trends and market sentiment at-a-glance. We have always been deeply dedicated to the real estate market and examining the trends.
“For anyone interested in buying or investing in a property, it’s extremely useful to see not only where the demand lies, but also to consider up and coming areas that might not have otherwise been on their radar. Being the market leader means we have access to more data than any other company servicing the emirate’s real estate sector, and we are delighted to share our insights.
“Our inclusion of asking prices and transaction prices [what sellers request for their properties and what the properties actually sell for] will also help generate better understanding of short term pricing fluctuations – and encourage buyers to put sensible offers in.” After the Marina and Downtown, buyers searching via Property Finder looked next to Jumeirah Village Circle, then Business Bay, Jumeirah Lake Towers and Jumeirah Beach Residence.
In price terms, the most popular sale search for the month of February was for two-bedroom apartments in Dubai Marina, with an average asking price of AED1,750,000, and an average transaction value of AED1,600,000.
In terms of rental searches in February 2020, after looking at availability in the Marina and Downtown, people looked at Jumeirah Village Circle, Business Bay, Jumeirah Lake Towers and Palm Jumeirah.
The most searched for rental properties were one bedroom apartments in Dubai Marina, with an average annual rental asking price of AED80,000, and a transaction price of AED84,500.
“Transaction prices in Dubai Marina have been stable over the last year and we are starting to see prices increase in some towers. The market demand data also shows Dubai Marina as the most searched area over the last year, therefore the demand is clearly there hence why transaction prices are sometimes higher than listing prices.” comments Lynnette Abad, Director Research & Data.
Of the rental and sale searches, a majority of average transaction prices remain below the asking prices – in some cases substantially lower.
For example, Property Finder’s figures show one of the best rental bargains were found among two bedroom properties in Downtown Dubai, with average rental asking prices exceeding actual average rental transaction values by nearly AED40,000. (AED159,999 listed price compared to AED120,000 transaction price).
This month’s sales transaction show a price spike among average transaction prices for two bedroom apartments on JBR, while the greatest deals were to be found among the two bedroom apartments in Jumeirah Lake Towers, where the difference between asking prices and transaction prices is a quarter of a million dirhams (AED250,000).
-Ends-
About Property Finder – www.propertyfinder.ae
Property Finder is the leading property portal in the MENA region and Turkey that facilitates the house-hunting journey for both buyers and renters.
Founded in 2007, the website has evolved over the years as the go-to platform for developers, real estate brokerages, and house hunters to make informed decisions on all things real estate.
A UAE-born start-up, Property Finder has branched out of the country’s shores and operates in a total of seven markets, including Qatar, Bahrain, Saudi Arabia, Lebanon, Egypt, and Morocco, and has a significant stake in the second-largest property portal in Turkey, which has over 6 million monthly visitors and more than 18,000 real estate agents.
US private equity firm General Atlantic led Property Finder’s latest round of investment of a total of $120 million in 2018. This is being used to hire further exceptional talent and investing in its technology and product capabilities.
The property portal employs over 450 employees globally, of which 204 people work out of its Dubai office, and generates over six million monthly visits as a Group.
In April 2019, Property Finder announced the acquisition of JRD Group, following an increased investment in Turkish portal Zingat.
In 2014, Property Finder acquired eSimsar.com, the top property portal in Saudi Arabia, while in 2013, the Group bought out realestate.com.lb, the number 1 property portal in Lebanon, and lastly, the acquisition of Selektimmo, a Moroccan portal, to pad out sarouty.ma, Property Finder’s Moroccan offering, in 2016.
For media enquiries, please contact Anna Lucas Southgate
anna@propertyfinder.ae
+971 55 115 9971
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