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Here's 5 reasons why you should list your Emirates Hills home by our Luxury Rentals Expert
Words by Edward Coulson in The Guides · Mar 28th, 2018
As the real estate market fluctuates and trends in buying, selling and renting change, experienced real estate professionals will unanimously agree that the exclusive Emirates Hills community will forever be the epicentre of luxury, opulence and sophistication.
For years we have seen record breaking prices, magnificent interiors and architectural masterpieces that have a new benchmark for luxury homes around the world in the area. With new projects being handed over every month, we are faced with an oversupply in the market and many properties become vacant for long periods of time. Meanwhile, the owner of the property is waiting for the right buyer to purchase their property long after they have moved out. The result? An empty home with zero returns.
In an exclusive area such as Emirates Hills, buyers are so desperate to find the perfect property that they are happy to rent prior to securing their permanent residence. If you are an owner with an empty Emirates Hills home, it's the right time for you to offer your property to the rentals market in order to meet that demand and maximise your rental returns.
If you find yourself in the fortunate position to be looking for a property within the Emirates Hills community, then you will also understand that the benchmark for luxury living is set so high that the market fluctuation is very minimal. You will find investors having the ability to hold out for the best price rather than follow the current market trends. In an area where the focal point of any luxury home search is often size, quality, and community, the need to have a strict budget is almost obsolete. This year alone, we have seen villas and penthouses alike renting for in excess of AED 1,000,000 per year within Dubai's luxury communities and we see no sign of this sector slowing down or changing.
“If your budget is AED 1,500,000 for rent, then why have you not considered purchasing instead?”
The answer to this question varies but the most consistent response will be that the client has not found the right property to purchase, however, they still wish to reside in this area.
When purchasing a forever home in the Emirates Hills, it is important that you take your time and make the right choice as your family home is one of the largest investments you will ever make. It is frequent that a tenant in this area is also on the market looking to purchase, as they are keen to maintain the Emirates Hills lifestyle while looking. This also means that you open yourself up to a niche market of clients who will rent from you for a couple of years and then purchase your property once they have taken the time to realise it is the perfect one for them.
At Luxhabitat, we understand and acknowledge the fact that a property in excess of AED 35 Million does not sell overnight. We dedicate a significant amount of our time to marketing your property effectively, but even then luxury properties can sit on the market for many years in some cases.
Any homeowner will understand that the cost of moving while waiting to sell is not cheap, however with 1 single years rental payment, you will have ample funds to cover your moving expenses and sometimes make a small profit. In addition to this, high net worth clients frequently pay in one cheque and opt for a longer contract, providing the landlord with additional security.
Consider how much you spend on the staff working at your luxury home. How much does it cost to maintain your 20,000 sqft residence and equally large plot? To maintain a home of this size and value it is both difficult and expensive when the property is left vacant. When a tenant resides in your property, the cost of maintaining the home with maids and cleaners will be at their expense. A house-proud Emirates Hills tenant will always ensure the property is kept to a high standard.
When a property is left vacant without DEWA, a plethora of maintenance issues can arise due to the humidity, dust, and lack of water running through the property. It is likely that if a property is left vacant for an extended period of time, you will need to undergo major plumbing and air-conditioning work before selling to ensure the property is in a habitable state again. This cost is easily avoided when someone is occupying the property and maintaining it for you as a tenant.
With an award-winning website and a keen focus on the sales and rental of Dubai's most important properties, there is no better place to market your exclusive luxury home. You will benefit from the highest level of marketing provided by experts who have been in the market for over 15 years, giving your home a platform to thrive in the rental market.
With dedicated agents known on the market for record-breaking sales and rentals working on both aspects of your property, you will be safe in the knowledge that your investment is in the capable hands of this sector's leading brokers. Contact us today for a to briefly discuss what we can do to help you rent your Emirates Hills home. We can provide you with a free comprehensive consultation and accurate market value for your property.