Latest news with #ZhannJochinke
Zawya
27-02-2025
- Business
- Zawya
Dubai real estate market sees first price drop in two years
Dubai real estate prices fell by 0.57% in January 2025 – the first decline since summer 2022 – signalling a market shift towards stabilisation, according to leading real estate intelligence authority Property Monitor. While the first month of 2025 was the strongest January on record for transactions with 14,413 sales, average prices dropped to AED1,484 per sq ft. Sales volumes were down 4.6% compared to December 2024, stated Property Monitor in its monthly market report. Off plan launches continued to soar in January, with 53 launches from 37 developers bringing another 12,400 units to the market. Mortgage transactions also rose 6.8% month on month, with 4,134 loans secured. Loan to value (LTV) ratios also held steady despite stricter enforcement of UAE Central Bank regulations, it stated. Zhann Jochinke, the Chief Operating Officer, Property Monitor, said: "After four years of continuous growth, Dubai's real estate market is starting to show signs of stabilisation. While the total number of transactions remains strong, affordability constraints and market maturity are beginning to shape the landscape." "With sales volumes and mortgage transactions moderating, Dubai's property sector could be transitioning from a continued phase of rapid growth to a more sustainable trajectory. A careful balance of supply and demand will determine the future of the market in 2025 and beyond," he added. The Property Monitor January report shows that the median price for apartments was AED1.35 million with townhouses at AED2,61,000 and villas at AED6,915,888. With 7,555 transactions, the off-plan market accounted for 52% of sales during January, down 17.7% on December 2024, it stated. Meanwhile, the title deed sales saw a marked month-on-month increase, rising by 15.7% and accounting for 47.6% of sales. According to Property Monitor, Emaar Properties claimed the top spot for off-plan transactions, with a market share of 16.5%, followed by Damac Properties at 15.8% and Danube Properties at 5.3%. A villa in Emirates Hills secured the highest recorded sale, with a price tag of AED425 million. The lowest, at AED175,000 was for a studio apartment at Dubai Production City, it added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
27-02-2025
- Business
- Trade Arabia
Dubai real estate market sees first price drop in two years
Dubai real estate prices fell by 0.57% in January 2025 – the first decline since summer 2022 – signalling a market shift towards stabilisation, according to leading real estate intelligence authority Property Monitor. While the first month of 2025 was the strongest January on record for transactions with 14,413 sales, average prices dropped to AED1,484 per sq ft. Sales volumes were down 4.6% compared to December 2024, stated Property Monitor in its monthly market report. Off plan launches continued to soar in January, with 53 launches from 37 developers bringing another 12,400 units to the market. Mortgage transactions also rose 6.8% month on month, with 4,134 loans secured. Loan to value (LTV) ratios also held steady despite stricter enforcement of UAE Central Bank regulations, it stated. Zhann Jochinke, the Chief Operating Officer, Property Monitor, said: "After four years of continuous growth, Dubai's real estate market is starting to show signs of stabilisation. While the total number of transactions remains strong, affordability constraints and market maturity are beginning to shape the landscape." "With sales volumes and mortgage transactions moderating, Dubai's property sector could be transitioning from a continued phase of rapid growth to a more sustainable trajectory. A careful balance of supply and demand will determine the future of the market in 2025 and beyond," he added. The Property Monitor January report shows that the median price for apartments was AED1.35 million with townhouses at AED2,61,000 and villas at AED6,915,888. With 7,555 transactions, the off-plan market accounted for 52% of sales during January, down 17.7% on December 2024, it stated. Meanwhile, the title deed sales saw a marked month-on-month increase, rising by 15.7% and accounting for 47.6% of sales. According to Property Monitor, Emaar Properties claimed the top spot for off-plan transactions, with a market share of 16.5%, followed by Damac Properties at 15.8% and Danube Properties at 5.3%. A villa in Emirates Hills secured the highest recorded sale, with a price tag of AED425 million. The lowest, at AED175,000 was for a studio apartment at Dubai Production City, it added.-
Gulf Business
27-02-2025
- Business
- Gulf Business
Dubai real estate prices drop 0.57% in Jan, signalling stabilisation
Image: Getty Images Dubai real estate prices fell by 0.57 per cent in Jan 2025, marking the first decline since mid-2022 and signalling a potential market stabilisation, according to leading real estate intelligence firm Property Monitor. Despite the dip in prices, January recorded the highest-ever sales volume for the month, with 14,413 transactions. However, sales volumes were down 4.6 per cent compared to December 2024, and average prices declined to Dhs1,484 per square foot, the firm's monthly market The off-plan segment continued to expand, with 53 project launches from 37 developers introducing 12,400 new units. Mortgage transactions also saw a 6.8 per cent month-on-month increase, with 4,134 loans secured, while loan-to-value (LTV) ratios remained steady despite stricter enforcement of UAE Central Bank regulations. Market shift towards stability 'After four years of continuous growth, Dubai's real estate market is starting to show signs of stabilisation,' said Zhann Jochinke, COO at Property Monitor. 'While transaction volumes remain strong, affordability constraints and market maturity are beginning to shape the landscape. With sales volumes and mortgage transactions moderating, Dubai's property sector could be transitioning from rapid growth to a more sustainable trajectory. A careful balance of supply and demand will determine the market's future in 2025 and beyond.' The report highlighted that the median price for apartments stood at Dhs1.35m, townhouses at Dhs2.61m, and villas at Dhs6.92m. Dubai off-plan market sees slowdown Off-plan transactions accounted for 52 per cent of total sales in January, with 7,555 deals recorded. However, this segment saw a 17.7 per cent decline compared to December 2024. Meanwhile, title deed sales surged by 15.7 per cent month-on-month, making up 47.6 per cent of transactions. Emaar Properties led the off-plan market with a 16.5 per cent share, followed by DAMAC Properties at 15.8 per cent and Danube Properties at 5.3 per cent. Among the most notable transactions, a villa in Emirates Hills secured the highest recorded sale at Dhs425m, while the lowest transaction was a studio apartment in Dubai Production City for Dhs175,000. Dubai's real estate sector witnessed record-breaking performance in 2024, with a 30 per cent year-on-year growth in prices, launches, transactions, and mortgages. Real estate trends in 2025:
Khaleej Times
26-02-2025
- Business
- Khaleej Times
Dubai real estate market posts first monthly dip in two years
Dubai's red-hot real estate market has recorded its first monthly price decline in over two years, signalling a long-anticipated shift toward equilibrium. According to Property Monitor, a leading real estate intelligence firm, average prices fell by 0.57 per cent in January 2025 to Dh1,484 per square foot — the first drop since summer 2022. This cooling follows four consecutive years of unprecedented growth, during which prices surged by over 30 per cent in 2024 alone, smashing records for transactions, launches, and mortgage activity. January 2025 marked the strongest month on record for sales volume, with 14,413 transactions. However, this figure represented a 4.6 per cent month-on-month decline from December 2024, hinting at a moderation in buyer momentum. Notably, the off-plan sector continued to dominate, with 53 new launches adding 12,400 units to the pipeline. With 7,555 transactions, the off-plan market accounted for 52 per cent of sales during January, down 17.7 per cent on December 2024. Title deed sales saw a marked month-on-month increase, rising by 15.7 per cent and accounting for 47.6 per cent of sales. Developers such as Emaar (16.5 per cent market share), Damac (15.8 per cent), and Danube (5.3 per cent) led activity, though off-plan sales dipped 17.7 per cent compared to December. Meanwhile, ready property transactions rose 15.7 per cent, reflecting renewed investor interest in completed assets. The slight price correction underscores growing affordability constraints after years of steep appreciation. Median prices in January stood at Dh1.35 million for apartments, Dh2.61 million for townhouses, and Dh6.92 million for villas. While luxury segments saw eye-popping deals—including a Dh425 million villa in Emirates Hills—entry-level buyers gravitated toward affordable options, such as a Dh175,000 studio in Dubai Production City. Zhann Jochinke, COO of Property Monitor, noted, 'Dubai's market is maturing. After a phase of explosive growth, stakeholders are recalibrating to balance supply with sustainable demand.' Mortgage activity echoed this sentiment: despite tighter Central Bank regulations, loans rose 6.8 per cent month-on-month to 4,134, with stable loan-to-value (LTV) ratios indicating sustained lender confidence. 'While the total number of transactions remains strong, affordability constraints and market maturity are beginning to shape the landscape. With sales volumes and mortgage transactions moderating, Dubai's property sector could be transitioning from a continued phase of rapid growth to a more sustainable trajectory. A careful balance of supply and demand will determine the future of the market in 2025 and beyond,' said Jochinke. January's dip comes on the heels of a historic 2024, when Dubai's property sector defied global headwinds to achieve record-breaking sales (over 150,000 transactions) and price peaks. Analysts argue that January's moderation reflects a natural market cycle rather than a downturn, with developers and regulators now prioritizing long-term stability over unchecked expansion. With 12,400 new units launched in January alone, developers must align future projects with evolving buyer preferences, particularly in mid-market and sustainable housing, market analysts said. Stable LTV ratios and rising loan volumes suggest financing remains accessible, though rate fluctuations could impact sentiment. The polarization between ultra-luxury and budget-friendly segments will likely persist, requiring tailored regulatory and investment strategies. As Dubai's market transitions from 'boom' to 'balance,' 2025 is poised to test its maturity—and its ability to sustain growth without overheating, market pundits said. 'For investors and end-users alike, the era of guaranteed double-digit returns may be fading, but opportunities endure in a market now defined by nuance, diversification, and strategic foresight.'
