Property – New Homes Real Estate Dubai15 Nov 2017
For those who are looking to identify value for money real estate, Dubai offers a variety of new homes and other real estate options. The region is considered relatively inexpensive when compared to other cities across the world, including London, Paris and New York. A wide selection of good value houses for sale in Dubai can be found on Zawaya Property's website.
If you are looking for an inexpensive house for sale in Dubai, then you will have to bear in mind the old property adage which stills holds true today - location, location, location. In other words, the single most important element of any property's value is going to be exactly where it is located. The golden triangle would be a property exactly in the centre of a triangle that includes good schools, the business district, and the entertainment and shopping district.
The Waitrose Effect
In the UK, a highly respected newspaper, The Daily Telegraph, has identified what is known as "The Waitrose Effect". For those not familiar with Waitrose, it is one of largest supermarket chains in the UK, with 352 locations across the country. The Telegraph has published the results of a survey by Lloyds Bank, one of the leading banks in the UK, which claims that living near a Waitrose supermarket can add up to $52,000 to the value of a property. This compares to the average enhancement to a property's value by being located close to any supermarket of around $29,000. With Waitrose clearly being considered one of the premium supermarket brands in the UK, even living nearby to one of the discount chains such as Lidl and Aldi would raise the value of a property by up to $5,000.
With a value uplift of around 10% compared to similar properties without a Waitrose nearby, there is clearly a correlation between property value and the location of supermarkets, and indeed the perceived relative quality of any local supermarket. Other premium brand supermarkets in the UK added value above the national average, Sainsbury's adding about $36,000 and Marks & Spencer $35,000, but significantly less so than Waitrose. The above survey results further underpin the location, location, location motto in the real estate industry.
If you are interested in finding out more about real estate in Dubai, please contact Zawaya Property at for further information.