Latest news with #Chestertons
Mid East Info
2 days ago
- Business
- Mid East Info
Chestertons MENA Reveals Dubai's Top 6 Residential Hotspots, Ideal for First-Time Buyers with Rental Yields Up to 7.39%
Backed by market intelligence and investor trends, the renowned global property consultancy has pinpointed the top six communities redefining Dubai's residential market, each offering strong capital growth potential and attractive rental yields Dubai, UAE: Founded in 1805, Chestertons is one of the world's most established and trusted real estate advisory firms with a strong presence in the UAE since 2008. Empowering both end-users and investors to make informed property decisions, the respected consultancy has shared key insights on the top six emerging residential communities in Dubai: Jumeirah Village Circle (JVC), DAMAC Island, Downtown Dubai, Dubai Marina, Meydan City, and Dubai South. The findings show that while central areas remain in demand, suburban master-planned communities are delivering strong rental yields and attracting growing interest from both local and international investors. Data Snapshot: Among the top six residential communities, JVC, DAMAC Island, Downtown Dubai, Meydan City, Dubai Marina, and Dubai South have all recorded rising transaction volumes, boosted by a combination of well-priced inventory, improving infrastructure, and increasing rental yields. As the most affordable of the six, DAMAC Islands averages at AED 823 per sq. ft., with a yield of 7.38%, largely driven by attractive off-plan pricing and high-return early investment opportunities. Dubai South follows at AED 1,035 per sq. ft. and a rental yield of 6.77% while JVC prices average at AED 1,238 per sq. ft., with strong rental yields around 7.39%, making it particularly popular among younger tenants and first-time buyers. Meanwhile, Dubai Marina offers a more central location at AED 1,757 per sq. ft. and returns close to 6.24%. Downtown Dubai commands the highest average price at AED 2,504 per sq. ft., delivering a solid 6% return in a sought-after, high-profile location. In contrast, Meydan City presents a compelling option for value-seekers, averaging AED 1,915 per sq. ft. and yields of 7.14%, supported by ongoing infrastructure upgrades and spacious layouts. Behind the rise of these communities is a larger shift in Dubai's urban planning, with limited central land giving way to the development of more suburban master-planned zones. Developers like Emaar and Binghatti continue to launch high-appeal projects, while government entities such as the RTA and Dubai Land Department work together to ensure long-term viability. Additionally, recent updates across the property market have helped increase access for different buyer profiles. Notably, first-time buyers are benefiting from initiatives like reduced down payment requirements and easier mortgage approvals through developer-bank partnerships. Mania Merrikhi, Chief Operating Officer and Managing Director of Chestertons MENA, shared, 'At Chestertons, we've seen Dubai evolve into a powerhouse for real estate investment, and initiatives like the D33 agenda are set to drive even greater economic and urban growth over the next decade. At the same time, attention is shifting towards other emirates, particularly Abu Dhabi, where high-profile developments and infrastructure projects are opening up exciting new opportunities for investors.' Mohamed Mussa, Executive Director of Chestertons MENA, added, 'Government support continues to play a vital role in shaping the UAE's real estate market, with various entities rolling out buyer-friendly regulations and initiatives that make it easier for first-time buyers to enter the market. Notably, these developments are attracting a new wave of international and family-oriented investors. Looking forward, we anticipate particularly strong demand for full-service, master-planned communities that deliver on lifestyle, convenience, and value.' As Dubai's residential market continues to evolve, the spotlight is shifting towards communities that combine value, lifestyle, and long-term potential. With deep market insight and a legacy of trust, Chestertons MENA remains a reliable partner for those looking to navigate this shifting landscape with clarity and confidence. With a legacy spanning over 220 years, Chestertons is one of the world's most established and respected real estate advisory firms. Founded in London in 1805 by Charles Chesterton, the company has built a reputation for trust, integrity, and expertise, offering tailored advice to clients across the globe. As a founding member of the Royal Institution of Chartered Surveyors (RICS), Chestertons combines its rich heritage with a forward-thinking approach, providing a full suite of services including residential and commercial brokerage, valuation and advisory, building consultancy, property management, and market research. In the UAE, Chestertons has been active since 2008, with its regional headquarters now based in Marina Plaza, Dubai Marina. The firm is home to a dynamic team of over 90 experts who bring together international experience and local insight to support developers, investors, landlords, and occupiers. With a history of success built over generations, Chestertons delivers intelligent, personalised solutions that generate long-term value.
Zawya
4 days ago
- Business
- Zawya
Chestertons MENA reveals Dubai's top 6 residential hotspots
Backed by market intelligence and investor trends, the renowned global property consultancy has pinpointed the top six communities redefining Dubai's residential market, each offering strong capital growth potential and attractive rental yields Dubai, UAE: Founded in 1805, Chestertons is one of the world's most established and trusted real estate advisory firms with a strong presence in the UAE since 2008. Empowering both end-users and investors to make informed property decisions, the respected consultancy has shared key insights on the top six emerging residential communities in Dubai: Jumeirah Village Circle (JVC), DAMAC Island, Downtown Dubai, Dubai Marina, Meydan City, and Dubai South. The findings show that while central areas remain in demand, suburban master-planned communities are delivering strong rental yields and attracting growing interest from both local and international investors. Data Snapshot Among the top six residential communities, JVC, DAMAC Island, Downtown Dubai, Meydan City, Dubai Marina, and Dubai South have all recorded rising transaction volumes, boosted by a combination of well-priced inventory, improving infrastructure, and increasing rental yields. As the most affordable of the six, DAMAC Islands averages at AED 823 per sq. ft., with a yield of 7.38%, largely driven by attractive off-plan pricing and high-return early investment opportunities. Dubai South follows at AED 1,035 per sq. ft. and a rental yield of 6.77% while JVC prices average at AED 1,238 per sq. ft., with strong rental yields around 7.39%, making it particularly popular among younger tenants and first-time buyers. Meanwhile, Dubai Marina offers a more central location at AED 1,757 per sq. ft. and returns close to 6.24%. Downtown Dubai commands the highest average price at AED 2,504 per sq. ft., delivering a solid 6% return in a sought-after, high-profile location. In contrast, Meydan City presents a compelling option for value-seekers, averaging AED 1,915 per sq. ft. and yields of 7.14%, supported by ongoing infrastructure upgrades and spacious layouts. Positioned for Growth Behind the rise of these communities is a larger shift in Dubai's urban planning, with limited central land giving way to the development of more suburban master-planned zones. Developers like Emaar and Binghatti continue to launch high-appeal projects, while government entities such as the RTA and Dubai Land Department work together to ensure long-term viability. Additionally, recent updates across the property market have helped increase access for different buyer profiles. Notably, first-time buyers are benefiting from initiatives like reduced down payment requirements and easier mortgage approvals through developer-bank partnerships. Mania Merrikhi, Chief Operating Officer and Managing Director of Chestertons MENA, shared, 'At Chestertons, we've seen Dubai evolve into a powerhouse for real estate investment, and initiatives like the D33 agenda are set to drive even greater economic and urban growth over the next decade. At the same time, attention is shifting towards other emirates, particularly Abu Dhabi, where high-profile developments and infrastructure projects are opening up exciting new opportunities for investors.' Mohamed Mussa, Executive Director of Chestertons MENA, added, 'Government support continues to play a vital role in shaping the UAE's real estate market, with various entities rolling out buyer-friendly regulations and initiatives that make it easier for first-time buyers to enter the market. Notably, these developments are attracting a new wave of international and family-oriented investors. Looking forward, we anticipate particularly strong demand for full-service, master-planned communities that deliver on lifestyle, convenience, and value.' As Dubai's residential market continues to evolve, the spotlight is shifting towards communities that combine value, lifestyle, and long-term potential. With deep market insight and a legacy of trust, Chestertons MENA remains a reliable partner for those looking to navigate this shifting landscape with clarity and confidence. About Chestertons With a legacy spanning over 220 years, Chestertons is one of the world's most established and respected real estate advisory firms. Founded in London in 1805 by Charles Chesterton, the company has built a reputation for trust, integrity, and expertise, offering tailored advice to clients across the globe. As a founding member of the Royal Institution of Chartered Surveyors (RICS), Chestertons combines its rich heritage with a forward-thinking approach, providing a full suite of services including residential and commercial brokerage, valuation and advisory, building consultancy, property management, and market research. In the UAE, Chestertons has been active since 2008, with its regional headquarters now based in Marina Plaza, Dubai Marina. The firm is home to a dynamic team of over 90 experts who bring together international experience and local insight to support developers, investors, landlords, and occupiers. With a history of success built over generations, Chestertons delivers intelligent, personalised solutions that generate long-term value.
Time Out
01-08-2025
- Lifestyle
- Time Out
London's first ever penthouse designed by Versace is up for sale
Given London's 'i mpossibly unaffordable' housing market, for many of us, a place in the city with a separate living room, a slither of outdoor space or a proper shower cubicle feels like luxury. Somewhere with a spare room or a kitchen island is downright palatial. But if it's real luxury you're after for your next move, how about a penthouse designed by the one and only Donatella Versace? A five bedroom duplex penthouse, with interiors designed by Versace Home is up for grabs. What's more, it's one of a kind. Located between Battersea and Vauxhall, this is the only residential development in London to have been fully designed by the luxury brand. The penthouse, which sits on the 50th floor of DAMAC Tower Nine Elms is listed by London-based estate agents Chestertons. Its listing says that Donatella's 'unique signature is everywhere, from the mosaic walls of the spa influenced by the icon of Versace, to the intricate Greek Key inlay on the bedroom door'. It's certainly an acquired taste. But when you've got your own swimming pool, state-of-the-art gym, a cinema room and a 180 degree views over London's skyline, you can't really complain. There's also two multicoloured kid's play rooms (both with fitted slides), two car lifts and 24-hour concierge service. And you'll get to enjoy the building's communal gardens and the private residents' lounge, spa and steam room. All that could be yours for a modest £10.7 million! Take a closer look at the penthouse below. The best hotel in the UK is in London, according to Muddy Stilettos. .
The Herald Scotland
01-08-2025
- Business
- The Herald Scotland
UK house prices increase by 0.6% month-on-month in July, says Nationwide
This took the average UK house price to £272,664. Robert Gardner, Nationwide's chief economist, said: 'Looking through the volatility generated by the end of the stamp duty holiday, activity appears to be holding up well. Indeed, 64,200 mortgages for house purchase were approved in June, broadly in line with the pre-pandemic average, despite the changed interest rate environment. 'After deteriorating markedly in the wake of the pandemic, housing affordability has been steadily improving, thanks to a period of strong income growth alongside more subdued house price growth and a modest fallback in mortgage rates. 'While the price of a typical UK home is around 5.75 times average income, this ratio is well below the all-time high of 6.9 recorded in 2022 and is currently the lowest this ratio has been for over a decade. 'This is helping to ease deposit constraints for potential buyers, as has an improvement in the availability of higher loan to value mortgages. 'Similarly, the interest rate on a typical five-year fixed-rate mortgage is around 4.3% (for a borrower with a 25% deposit). This is still over three times the all-time lows prevailing in autumn 2021, but well below the highs of (around) 5.7% reached in late 2023.' Mr Gardner said that despite wider economic uncertainties in the global economy, underlying conditions for potential home buyers in the UK remain supportive. He said: 'Unemployment remains low, earnings are still rising at a healthy pace, household balance sheets are strong and borrowing costs are likely to moderate a little further if (the Bank of England base rate) is lowered further in the coming quarters as we, and most other analysts, expect. 'Providing the broader economic recovery is maintained, housing market activity is likely to continue to strengthen gradually in the quarters ahead.' Matt Thompson, head of sales at London-based estate agent Chestertons, said: 'Last month alone, some of our branches have seen an evident uplift in the number of vendors wanting to sell which has motivated more buyers to resume their search and make an offer.' Nathan Emerson, CEO at property professionals' body Propertymark, said: 'Many people are delaying paying off their mortgages until later in life via 35-year or 40-year mortgages. Therefore, a reduction in interest rates would be very welcome to help offset ongoing financial pressures and worries over the cost of living for many.' Mark Harris, chief executive of mortgage broker SPF Private Clients, said: 'Lower mortgage rates, with the expectation of more reductions to come, are giving the market impetus and putting borrowers in a stronger position when it comes to negotiating their property purchase. This, in turn, is keeping prices in check. 'With the markets expecting a further rate reduction next week, we could be in for a busy autumn. Lenders continue to trim their mortgage rates, while easing of mortgage lending rules should also enable borrowers to take on bigger mortgages in coming months.' Earlier this week, HM Revenue and Customs (HMRC) reported that house sales jumped by 13% month-on-month in June. Across the UK, it estimated that 93,530 home sales took place during the month, which was 1% higher than in June 2024. Bank of England figures have shown that mortgage approvals for house purchase have ticked upwards, with around 64,200 approvals made to home buyers in June – the highest figure since March this year. Alice Haine, personal finance analyst at Bestinvest by Evelyn Partners, said: 'While some buyers are clearly pressing ahead with their purchase plans, as reflected in robust mortgage approval data for June, others may now be mulling their options more carefully as higher costs pose a fresh challenge. 'Lenders are offering solutions, however, not only with more relaxed affordability rules, but also by ramping up the number of low-deposit or 100% mortgages on offer to help more first-time buyers onto the property ladder. Longer-term mortgages, where the repayment period is stretched beyond the traditional 25-year term to 30, 35 or even 40 years are also becoming increasingly popular.' Karen Noye, a mortgage expert at wealth manager Quilter, said: 'All eyes will be on the Bank of England next week and what it decides to do with interest rates. It was thought that a rate cut was fairly certain on Thursday, but recent inflation data coming in higher than expected may just temper things slightly and force buyers to wait. 'Should the Bank of England follow through with a rate cut, however, that will help support the buyers.' Tom Bill, head of UK residential research at Knight Frank, said: 'Sticky inflation means a probable cut by the Bank of England next week may only be followed by one more this year. Despite a modest uptick in July, high levels of supply are keeping a lid on prices and means it is still very much a buyers' market.' Iain McKenzie, CEO of the Guild of Property Professionals, said: 'For sellers, realistic pricing is crucial to capture buyers' attention in a more competitive landscape. For buyers, the combination of more choice and the likelihood of further mortgage rate improvements creates a compelling window of opportunity.' Jonathan Handford, managing director at estate agent group Fine & Country, said: 'Properties purchased during the Covid-era 'race for space' – particularly in coastal and rural areas – are increasingly returning to the market as commuting patterns normalise and lifestyle priorities shift. This added supply is helping to moderate price pressures in some regions.' Sarah Coles, head of personal finance, Hargreaves Lansdown, said: 'A combination of pay rises ahead of inflation, falling mortgage rates and keenly-priced properties could start to reignite buyer enthusiasm in the coming months.' Jonathan Hopper, CEO of Garrington Property Finders, said: 'Most buyers are still being prudent and pragmatic.' Jason Tebb, president of OnTheMarket, said: 'Interest rate reductions are going to be more vital than ever when it comes to encouraging activity and momentum.'
Daily Mail
31-07-2025
- Entertainment
- Daily Mail
Donatella Versace-designed flat in London's Nine Elms goes on the market for £10.7m
A five-bedroom duplex flat in London designed by Donatella Versace and her business, Versace Home, has gone on sale for £10.7million. The Damac Tower Nine Elms building is the only residential development in London fully designed by Versace Home. The duplex flat being sold by Chestertons spans 3,664 sq ft and has two reception rooms and five bathrooms. Its interiors were designed by Versace Home's former artistic director, Donatella Versace. The sizeable five-bedroom flat, which is located between Battersea and Vauxhall in London, boasts 180-degree skyline views of the capital. The tower has interiors styled by Donatella Versace herself, including an indoor swimming pool, steam room and jacuzzi boasting panoramic views and a state-of-the-art gym. Interested buyers with deep pockets will have to ask Chestertons, the estate agency selling the flat, what the annual service charge is, as this is not disclosed in the listing. The flat's ground rent is £1,200 per year and the length of the lease on the property is 993 years. 'Her unique signature is everywhere, from the mosaic walls of the spa influenced by the icon of Versace, to the intricate 'greek key' inlay on the bedroom doors', the estate agent, Chestertons, said. On the twenty-fourth floor of the building, there is a 2,034 sq ft Donatella Versace-designed colourful children's play area featuring a large slide and equipped with books, games and toys. The tower has ample parking, two car lifts and a slew of optional hospitality services available. A communal residents' lounge overlooks the tower's roof gardens and has panoramic views of the London skyline. Residents in the tower can also enjoy a plush residents-only private cinema exuding Hollywood glamour in its design. Starting prices for a studio in the block start from £712,000. Prices for one-bedroom, two-bedroom and three-bedroom flats in the tower start from £835,000, £1.2milllion and £2.3million respectively. Take it all in: The communal jacuzzi in the block is simple but chic A spokesperson for Chestertons told This is Money: 'We're seeing strong interest from both domestic and international buyers – particularly those who value statement design, exceptional facilities, and long-term capital growth. 'Damac Tower appeals to discerning professionals, overseas investors, and buyers seeking a stylish pied-à-terre in central London. 'With its prime position in Nine Elms, proximity to Battersea Power Station, and excellent transport links via the Northern Line extension, this development represents an aspirational yet strategic purchase.' The Damac Tower Nine Elms building is a 50-storey, 170-metre high skyscraper. It was originally scheduled to be completed by 2020, but this was delayed to June 2022. The tower sits at the centre of a multi-billion-pound regeneration scheme transforming the area in London between Battersea and Vauxhall. Versace House was founded in 1978. The business is led by Emmanuel Gintzburger as chief executive and the design team is under the leadership of chief creative officer, Dario Vitale. Donatella Versace stepped down from her role as artistic director in April, but remains the company's chief brand ambassador. As well as designing hotels, apartment blocks and cars, Donatella Versace has dressed some of the most famous people in the world. She designed the green jungle dress for Jennifer Lopez in 2000 and Michelle Obama's dress for her 2016 final state dinner. How to find a new mortgage Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible. Buy-to-let landlords should also act as soon as they can. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you What if I need to remortgage? Borrowers should compare rates, speak to a mortgage broker and be prepared to act. Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it. Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees. Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone. What if I am buying a home? Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be. Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power. What about buy-to-let landlords Buy-to-let landlords with interest-only mortgages will see a greater jump in monthly costs than homeowners on residential mortgages. This makes remortgaging in plenty of time essential and our partner L&C can help with buy-to-let mortgages too. How to compare mortgage costs The best way to compare mortgage costs and find the right deal for you is to speak to a broker. This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice. Interested in seeing today's best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs. If you're ready to find your next mortgage, why not use L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you. > Find your best mortgage deal with This is Money and L&C Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you.
