Friday, 29 January 2016

Why Fuel Cost Falling Down?

It’s relieving news for all the auto-mobilist and households in the UAE; as fuel prices have dropped to their lowest level in five years in coming month, which will also help ease inflation in the country.

Last week in this month the Ministry of Energy announced, the diesel rates per ltr are at their lowest level since 2011. Last July, the UAE government initiated the deregulation terms for gasoline and diesel by scraping the government subsidy. The new pricing policy is connected to global oil cost.

Because of The first price adjustment, all the motorists got worried of rise of the price, which was around a quarter per cent, but now under the new policy brings the fifth successive downward revision to relief for all private car owners and commercial vehicles' owners.

Falling fuel prices also helped brought down expansion in the country. The latest data shows that expansion across the UAE dropped to 3.5 % in Nov 2015 differentiated to 3.7 % in Oct and 4.43 % in Jul 2015.

During 2016, UAE consumer price index is anticipated to be 3 %, 3.25 % and 3.6 % considering the oil cost at 45$ per barrel, 55$ and 65$.Oil sector used to generate 65 % of government profits in 2014, but with the reduce in oil cost oil sector is anticipated to generate only 50 % of the government profits in 2015.

Oil prices peaked after 2008 to reach about 140$ per barrel and by the end of 2015 the price has fallen to less than 40$ per barrel. And during the same time, the oil exporting country like the UAE saw an expansion rate of around 13% and now it dropped to less than 4% after the deregulation of fuel prices.

From February, the new prices for petrol will be valid, announced by The UAE’s Ministry of Energy. The petrol and diesel will cost lower than earlier oil prices in coming month.

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Tuesday, 19 January 2016

Buying a House? What to Keep in Mind.

Factors that a buyer should keep in mind  is Location, who is the Master developer , who is the building contractor, electricity costs, service charges, standard of build, energy regulation, any existing mortgage on the property; are some very important things to keep in mind when buying property and signing any kind of legal papers. locality and return on investment; often influence the choice of the buyer.

Buyers mostly think about where they can spend their money on best property but the top factors is location, property size, facilities and community advantages. specify that buyers should also examine the grade of the property and locality.

Residential l property market seems to be going up again; many who were sitting on the sidelines are now contemplating buying a house in the city. Experts believe the market will see healthy returns in the future but there remain particular factors to consider before people put in their money into buying a house. Nevertheless, based on expert opinion, lists below the top 9 factors that anyone thinking of buying a property in Dubai must contemplate before making the move:

1.       Location
2.       Master developer’s delivery and service track record
3.       Building contractor’s record
4.       Possible return on investment
5.       Monthly costs, including electricity and service cost
6.       Seller’s existing mortgage prepayment demands
7.       Buyer’s mortgage potential and availability
8.       Overall property size
9.       Geo-political risk

Buying an affordable apartment in the city during the boom years; the list of problems is endless. On the other hand, invested more in a good location, is a much better condition even when the property market was at its worst. Location is the one thing to remember and of course the developer.

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Tuesday, 12 January 2016

Rent Prices will Fall! But why? Find the Reason

From 2016 in Dubai could post a significant decline in Housing rents as numbers of new apartments and villas will be finished this year. The cost of renting in Dubai has been fore-casted to start falling in 2015, with analysts predicting a 5 % drop before the second half of the year. A more notable drop in rental rates could be fall in 2016 onwards as the big number of projects declared in 2013/1.

A contrast of rates between today and many years ago, however, would show that apartment rents have grow by 65 % since 2011, although they are still 25 % under than in 2008.Villa rates grower by nearly 55 % since their lowest in 2011.The slowdown in rents is increasing Dubai’s position as a more perfect place for budget-conscious tenants contrasted to Abu Dhabi.

All those worrying about the rental prices in Dubai, recent study carried out it are forecast that by rents in Dubai will greatly lower by this year. There are so many properties completing their construction in 2015, with an approximately 12,000 apartments and 2000 villas being freed by the end of 2015. New communities are presently under construction or being upgraded, which again grow the sum of sought after neighborhoods in the city, such as Al Furjan and Jumeirah Village Triangle.

More people have been going out of Dubai to save on rent, with numbers of people moving to low priced nearby emirates. As more people vacate Dubai to live elsewhere, the rental prices will steady as the demand decline.

People are not prepared to pay the prices! As people discern that the rental prices are not justified, they deny paying it. This sees families move to low-priced communities and out of the main desired areas, which will make the desire communities’ rents lower, as they will need to entice residents in.

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